In short:
Jeanswest will close more than 90 stores in Australia, putting hundreds of people out of work due to tough retail trading conditions.
The brand is the latest local retailer to collapse, after the parent company behind Rivers, Katies and Rockmans entered administration last year.
What’s next?
Stock at Jeanswest stores will go on sale immediately as administrators look at ways to restructure the business to focus on online retail.
I know they aren’t a car manufacturer or a mine so I guess no bail out from the government.
Fuuuuck. It’s so true it hurts. Satire, sometimes, is only funny for a second.
They’re getting a bit of a bailout.
They’re paying the workers directly for their missing entitlements? That’s astonishingly good of the government.
That legislation waa brought in under the Howard governemnt from memory?
It’s been awhile (so my memory could be faulty) but their was some large busines shit the bed back in the day and lots of employees were left missing their holiday pay, super etc and legilsation was subsequently introduced to cover it.
I’m thoroughly impressed.
I mean they’re probably paying the CEO and asking that the CEO pass it onto the workers. The CEO’ll likely pay off their credit card or get some work done on their frown lines from all the stress.
Yeah, I’m sure that’s how it works.
I don’t have much trust in the government helping the little people.
Why are so many people on this platform like this?
Because the Aussie gov does heaps to support corporations and little to support workers. Did you see that Punters Politics piece on big petro/gas companies paying less tax than Australian teachers? It’s not trickle down, it’s punch down.
Also there is a fair amount of ignorance. Australian unions have worked with the ALP for decades to ensure entitlements for Australian workers in these circumstances and Labor passed the FEG legislation.
We get it, the mining lobby and billionaires are a corrupting influence on democracy including the ALP. The ALP aren’t left enough, aren’t proactive enough, whatever. But also the ALP has passed a lot of legislation that benefits working Australians and unsurprisingly you hear fuck all about it from MSM or people pushing minor parties and independents.
When these companies can’t pay entitlements it isn’t the Liberal party, Greens or independents that legislated to ensure workers aren’t going to be completely fucked.
Credit where its due.
Have you never worked for a corporation?
I just watched 20 people resign and it benefited the “trusted” executive leader who pretended like they were so heartbroken about it…
Cool.
We’re talking about the Australian federal government here though.