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:

VIC

Doncaster

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Eastland

Echuca

Forest Hill

Karingal

Rosebud

Southland

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The District Docklands

Watergardens

NSW

Blacktown

Castle Towers

Charlestown

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East Gardens

Kotara

Macarthur

Miranda

Shell Harbour

Singleton

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Tweed City

Wetherill Park

QLD

Burleigh

Castletown

Chermside

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Earlville

Lismore

Maroochydore

Myer Centre Store

WA

Carousel

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Centrepoint

Karrinyup

Mandurah

Mirrabooka

Rockingham

SA

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Castle Plaza

Marion

West Lakes

TAS

Hobart City