Australian-founded, Hong Kong-owned denim label Jeanswest is the latest retailer to enter voluntary administration, with the future of its 146 stores uncertain.

Key points: Jeanswest opened its first store in Perth in 1972 and is now owned by a private Hong Kong firm

Jeanswest opened its first store in Perth in 1972 and is now owned by a private Hong Kong firm Only the Jeanswest operations in Australia are affected, with stores overseas operated by a listed Hong Kong company

Only the Jeanswest operations in Australia are affected, with stores overseas operated by a listed Hong Kong company 988 Jeanswest staff face an uncertain future as administrators consider a restructure or sale of its 146 stores

The company employs 988 staff in stores across all states and territories — including 40 stores in New South Wales, 32 stores in Victoria, 28 in Queensland and 23 in Western Australia.

Administrators from KPMG have been appointed and say Jeanswest will continue to operate as they consider "all options for the restructure or sale" of the business.

"Like many other retailers, the business has been challenged by current tough market conditions and pressure from online competition," said James Stewart from KPMG.

Jeanswest opened its first store in Perth in 1972 and expanded to the east coast during the 1980s, before being bought by Hong Kong firm Glorious Sun in 1994.

The Jeanswest brand expanded overseas, into countries including China, Hong Kong, Vietnam, Russia and Indonesia.

Denim chain Jeanswest is owned by a private company based in Hong Kong. ( Supplied: Westfield )

In 2017, the publicly-listed Glorious Sun sold the Australian operations to a private company called Howsea Limited, run by its chairman Charles Yeung and vice-chairman Yeung Chun Fan.

The administration only affects the Australian business.

Consumer confidence in regional areas 'particularly fragile'

This latest retail collapse follows Bardot's announcement that 530 workers will lose their jobs as it shuts 58 stores over the next two months, while Harris Scarfe will close 21 stores and cut 440 jobs.

On Tuesday, retailer Mosaic Group warned its sales took a hit in the second half of last year, especially in the 32 per cent of its stores in regional areas, where the company said "consumer confidence has been particularly fragile".

The retailer, which operates the Noni B, Rivers, Millers and Katies clothing chains, said 20 per cent of its stores were "directly impacted" by the bushfires.

Shares in Mosaic Brands fell 17 per cent on Tuesday and a further 2.7 per cent on Wednesday.

Weak household consumption has put a dampener on Australia's economic growth in recent quarters.

While the latest retail sales figures showed a bounce in November, due to the Black Friday and Cyber Monday shopping events, EY chief economist Jo Master said it was "too early to call a resurgence in consumer spending".

Data from ANZ card transactions over the Christmas period showed sales were down more than 5 per cent between December 16 and Boxing Day, compared to the same period in 2018.