Aussie denim giant Jeanswest has fallen into voluntary administration, the label announced on Wednesday afternoon.
Jeanswest was founded in Perth in 1972 and now employs 988 people in 146 branches across the country.
"Jeanswest will continue to work while the administrators are conducting an urgent business analysis", said the KPMG partner Peter Gothard said in a statement.
The retailer will continue operating while a potential buyer for the business is found.
"Like many other retailers, the business has been challenged by current tough market conditions and pressure from online competition", he said.
KPMG's head of retail restructuring, James Stewart, pointed to online competitors and low consumer spending as reasons why Jeanswest has struggled financially.
Jeanswest was first established in Perth in 1972.
Curious Planet: The science store, formerly known as Australian Geographic is set to close 63 stores. Had been run by same family for more than 140 years. Not to mention that EB Games will close 19 "unprofitable" stores at the end of January.
In October, celebrity chef Shannon Bennett's Melbourne burger chain Benny Burger was also placed into administration, followed by seven Red Rooster outlets in Queensland just days later and then Aussie activewear sensation Stylerunner, which has since been sold to Accent Group Limited.
Australian clothing giant Jeanswest has closed its doors, leaving nearly 1,000 workers at 146 stores in limbo.
Household names like Harris Scarfe, Bardot, Roger David, and Napoleon Perdis dropped like files in the past year with dozens of stores closing resulting in heavy job losses.
Zanui: Popular furniture and homewares company entered voluntary administration.
The body count is mounting from Australia's retail downturn.
Muscle Coach: Leading fitness company put into voluntary administration after company racked up debts of nearly $1 million.