The future of retailer David Jones’s Auckland shop is up in the air after it was placed in administration and receivership.
However, the store will remain open for now.
The iconic department chain, which has dozens of stores across Australia and one in New Zealand, has according to the ABC had a breakdown in negotiations with its landlord over rent.
Receivers FTI Consulting and voluntary administrators McGrathNicol said in a statement today that David Jones’s physical and online stores are continuing to trade under the control of the receivers, while they review the current operations.
David Jones chief executive Erica Berchtold said they have a well-developed plan on how to reset the business and will be working with the administrators,…