David Jones fell into both voluntary administration and receivership last week amid piling debt. Now its administrator is kicking off a rapid sale process.
Prospective buyers of David Jones have until Friday afternoon to express interest as administrators McGrathNicol kick off a sale process for the iconic retailer after its collapse last week.
Formal advertisements will go out this week, McGrathNicol partner Matthew Hutton said, as the firm looks for a buyer who can create a more “streamlined and agile operating model” for the retailer following years of rising losses and mounting debt.
“There…