Pitcher Partners Melbourne are accepting expressions of interest (EOI) for the acquisition of Jeanswest’s intellectual property (IP).
Jeanswest’s parent company Harbour Guidance Pty Ltd fell into administration earlier this year, with Pitcher Partners’ Lindsay Bainbridge, David Vasudevan and Andrew Yeo being appointed to oversee the process.
Over the last month, the administrators led a inventory sell-down through store promotions, planning to offload $20 million worth of jeans and other fashion items.
It is anticipated that the in-store sales will be completed on or around May 20, 2025.
Jeanswest’s IP includes its registered trademarks, clothing designs and garment patterns, domain names, social media assets with a combined following of 232,000 people, customer data and supplier relationships.
The deadline for submitting EOIs is May 20, 2025, coinciding with the anticipated completion of Jeanswest's inventory sales. Following this date, the directors of Harbour Guidance will assess the offers and determine the next steps.
The directors have indicated their intention to propose a Deed of Company Arrangement (DOCA), which would allow the company to restructure its debts and potentially continue operating in some form.
However, this is contingent on the successful completion of both the inventory and IP sales.
"The directors of Harbour Guidance are committed to exploring all options for the future of the Jeanswest brand, including a potential DOCA,” Bainbridge said.
“The successful sale of the intellectual property will be a key factor in determining the viability of a DOCA and the potential for the brand to continue operating in some form."
An extension of the convening period ahead of the second creditors’ meeting has been granted until June 30, 2025.
Jeanswest continues to clear the remainder of its stock, with discounts of at least to 50 per cent off all items store-wide.