Historic department store business David Jones has entered voluntary administration, threatening the future of a 188-year-old retailer.
The Australian Financial Review reports David Jones leadership informed staff of the administration this morning, after weeks of speculation about the business’ troubled finances.
The board has reportedly appointed administrators from McGrathNicol, with lender Hilco, which extended a $10 million lifeline to David Jones, tapping FTI Consulting to serve as receivers.
More to come.
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