Jeanswest has been acquired by Harbour Guidance after its announcement of voluntary administration in January.
The Australian operations of the business have been saved, as confirmed by KPMG Administrator, James Stewart.
“This is a great result for all parties,” Stewart said. “Retail is a people business, and the Administrators greatly appreciate the resilience of the Jeanswest staff through this administration process.”
The sale will commence in mid-March and will adopt a robust omnichannel strategy across the country.
The winners of the sale, Harbour Guidance, is a subsidiary of Harbour Guide Ltd. The Hong Kong-based company is owned by Mr Chun Fan, who has minor shares in Howsea, the previous parent company of Jeanswest.
“The acquisition of the Jeanswest business will present an opportunity to rejuvenate this iconic brand well known to the Australian community,” said George Yeung, Managing Director of Harbour Guidance. “The acquisition of the Jeanswest business will present an opportunity to rejuvenate this iconic brand well known to the Australian community.”
“We are committed to continue servicing Australian communities and grow the Jeanswest brand organically through an omnichannel service offering.”
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