David Jones’ collapse into administration threatens thousands of jobs and the survival of Australia’s 188-year-old department store after years of financial losses.
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Future of department store in jeopardy after administrators appointed on Thursday morningGet our breaking news email, free app or daily news podcastAustralia’s premier upmarket department store David Jones has collapsed into voluntary administration, putting thousands of jobs at risk and leaving the future of the 188-year-old retailer hanging in the balance.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. Continue reading...
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