Australian department store chain David Jones has entered voluntary administration on 5 November after failing to reach an agreement with its landlords over a restructuring plan, putting more than 6,000 jobs at risk and raising questions over its future ahead of the Christmas trading period.
The retailer’s board appointed administrators McGrathNicol, while its main financier, Hilco, appointed FTI Consulting as receivers to take control of day-to-day operations. The dual appointment will allow administrators to seek a buyer or fresh investment while receivers oversee the business and consider restructuring options.
David Jones operates 38 stores across Australia, including 17 in Westfield shopping centres, alongside its online…