Albury's Jeanswest has survived the company's mass restructure, with 37 of its 146 stores being axed.
The company went into voluntary administration last week and confirmed today which stores would close as well as 263 employees who will be made redundant.
KPMG voluntary administrators Peter Gothard and James Stewart said the decision to restructure the business was a "difficult but necessary one" taken in order to provide the business with the best possible chance of attracting a new owner.
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"The decision to proactively restructure the business early in the administration process has not been taken lightly," said Mr Stewart.
The Wangaratta and Wagga stores will also remain open.
Mr Stewart said they are mindful of the impact on staff, but work must be also done to give the business the "best chance to continue".