Storied Australian department store chain David Jones has collapsed into administration after a series of crisis meetings between its landlords and venture capital owner.
The boards of David Jones and owner Anchorage Capital Partners will place the group into voluntary administration on Thursday after talks broke down.
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David Jones CEO Erica Berchtold described the now-failed retailer as an “iconic company” in a statement released soon after news broke on Thursday.
“So many Australians have stories and memories of visiting DJ’s stores and I thank customers, our team members and our partners for their continued support for David Jones…