The iconic department store David Jones is teetering on the edge of collapse, marking a seminal moment for the Australian retail industry. Just weeks out from Christmas, the owner of the storied department store has announced it is entering voluntary administration.
Crisis meetings were held overnight with the retailer behind on rent in what industry experts are calling a “turning point” for the retail sector. This morning the business was placed into receivership. The physical and online stores are continuing to trade as administrators review the current operations.
David Jones CEO Erica Berchtold thanked staff and customers for their continued support of the “iconic” Aussie store.
“We have a…