Ökonomie
David Jones goes into administration, with store closures expected and thousands of jobs at risk
Future of Australia’s upmarket department store in jeopardy after years of steep losses, and outer suburban and regional locations vulnerable
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Australia’s premier upmarket department store David Jones has collapsed into voluntary administration, putting thousands of jobs at risk amid warnings “difficult decisions” lie ahead to salvage the 188-year-old retailer.
The upheaval follows years of steep losses and underperforming stores that left the heritage retailer falling behind on rent, culminating in a breakdown of negotiations with its primary landlord, Westfield owner Scentre Group.
