One of Australia’s most recognisable department store chains, David Jones, has entered voluntary administration and receivership after 188 years of trading, placing thousands of jobs and the retailer’s future in doubt.
The decision was made on Thursday, following the breakdown of negotiations with major shopping centre landlord Scentre Group, which operates Westfield shopping centres.
The retailer had reportedly failed to pay rent since September 30, prompting growing concerns about its financial position and ability to continue operating.
McGrathNicol has been appointed as voluntary administrator, while FTI Consulting has taken on the role of receiver and manager, with responsibility for overseeing the business and…