More bad news about the potential survival of iconic Aussie brand Jeanswest.
Early investigations into its finances shows they owe about 1200 creditors up to 50 million dollars, including 2.6 million to 988 employees, the Courier Mail reported.
Despite this, administrators hope a buyer can step-in and save the fashion chain which collapsed on January 15, with many of its 146 stores facing an uncertain future.
This year has already been a brutal one for chain store closures, including womenswear chain Bardot (58 stores), science retailer Curious Planet (63 stores), discount department store Harris Scarfe (21 stores), games seller EB Games (19 stores) and audio retailer Bose (around 8 stores).
Jeanswest Store Closures:
The District Docklands
Myer Centre Store