Australian department store David Jones enters administration
The 188-year-old retailer collapses into voluntary administration, putting thousands of jobs at risk.
At a glance
- David Jones appointed administrators on Thursday morning
- The 188-year-old retailer had accumulated rental arrears with landlord Scentre Group
- Thousands of jobs are at risk following the administration
- Store closures are anticipated as part of the process
David Jones, Australia's leading upmarket department store, has entered voluntary administration after years of significant losses and underperforming locations. The move follows a breakdown in negotiations with its primary landlord, Scentre Group, over rental arrears.
The administration process puts thousands of jobs in jeopardy and leaves the future of the heritage retailer uncertain. Store closures are expected as part of the process.
Why it matters
David Jones is Australia's premier upmarket department store with a 188-year history. Its collapse reflects broader challenges facing traditional retail in the modern marketplace.
Original reporting
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