Aussie mortgage holders are not the only ones struggling to make ends meet and pay their debts this Christmas.
After 188 years of rich history, Australian retailer David Jones was forced to admit defeat this week.
In New Zealand, the future of its Auckland shop is up in the air, but it would remain open for now.
For the New Zealand arm of the business, David McGrath and Joseph Hansell of FTI Consulting have been appointed receivers of David Jones (NZ) Pty Limited, while Andrew Grenfell and Kare Johnstone of McGrathNicol have been appointed voluntary administrators.
Shoppers will be wondering what is going on and what is next for the iconic retailer.
To understand what is unfolding at DJs, it helps to consider what happens to individuals when…