Ballarat's Jeanwest store will stay open for the time being, despite the fashion retailer entering voluntary administration.
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The Australian-founded company has had administrators appointed, but will continue to operate as normal while options are considered.
There are 146 Jeanswest stores across Australia, including the Ballarat store in the Bridge Mall, with 988 employees.
"Jeanswest will continue to operate while the administrators conduct an urgent analysis of the business," KPMG partner and administrator Peter Gothard said.
"The administrators will be looking at all options for the restructure or sale of this established Australian retail business and are seeking urgent expressions of interest from parties interested in acquiring or investing in the business."
KPMG's James Stewart said Jeanswest had faced tough market conditions and pressure from online competition.
Creditors will meet later this month.
The news comes after Harris Scarfe entered receivership and stores were subsequently slated to close, although the Ballarat store will remain open.
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