Up to 680 jobs have been saved by the news that Jeanswest has been sold.
In January, the clothing chain was placed into Voluntary administration and it was thought more than 250 people were set to be made redundant.
However, on Monday, a statement has now confirmed a sale contract has been signed with Harbour Guidance PTY Ltd.
The company is an Australian subsidiary of Harbour Guide Ltd, a Hong Kong company owned by Mr Chun Fan Yeung and his family.
Yeung is a shareholder in the former parent company of Jeanswest House.
“The sale is expected to be completed in mid-March 2020 and will include up to 106 stores,” the statement read.
“The sale is anticipated to preserve the jobs of up to 680 Jeanswest employees and is conditional on landlords agreeing to revised lease terms with Harbour Guidance.”
Although the new sale will save a large portion of the employees, it has been confirmed the following stores are still set to close in WA:
The following, however, will remain open:
- Albany Plaza
- Bunbury Centrepoint
- Ocean Keys
- Eaton Fair
- Park Centre
- Whitford City
- Garden City WA
- Midland Gate
- Secret Harbour