Jean Jones receivers hopeful of “positive outcome”

Receivers for Jean Jones clothing stores are hopeful of achieving a “positive outcome” for the nationwide women’s fashion chain.

Deloitte were appointed receivers to the fashion chain last Thursday.

Receiver Mike Horne of Deloitte said that while the receivers were still reviewing the company’s position, it appeared that the basic business model was viable and its problems were primarily caused by factors outside the business.

The immediate priority for the receivers was to restore stock volume to ensure the stores could return to appropriate trading levels, and then to identify a buyer for the whole chain.

The receivers were optimistic that, based on previous trading performance, most of the chain of 18 stores would continue to operate, Mr Horne said. Four stores had, however, been closed.

“We have had good support from the staff and everyone is focused on achieving a positive outcome,” Mr Horne said.

ENDS