David Jones enters voluntary administration after 188 years
David Jones, Australia's oldest department store, entered voluntary administration after 188 years.
David Jones went into voluntary administration on Thursday. The retailer fell behind on rent to Scentre Group, which owns Westfield.
The retailer employs more than 6,000 staff across 38 locations. The company had faced years of big losses and poorly performing stores.
High interest rates and cost-of-living pressures made this worse. They cut customer spending.
Chief executive Erica Berchtold said the company has a solid plan to reset the business. The retailer will work with administrators and lenders.
Some poorly performing stores are expected to close soon. The store remains open for now.
Shoppers are visiting to say goodbye to the Christmas displays and an institution many visited since childhood.
- 188 years
- Years in operation
- More than 6,000 across 38 locations
- Staff employed
- Scentre Group (Westfield owner)
- Primary landlord
Why it mattersA major employer's collapse threatens thousands of jobs. It marks the end of an era for a retailer that shaped Australian retail for nearly two centuries.
AustraliaMore than 6,000 Australian jobs are at risk; many people's lifelong shopping destination faces closure; retail sector continues to contract amid economic pressure.
✓ Claims checked against the source. checked 3 h ago
