Australian retailer David Jones has been placed in administration.
The 188-year-old department store’s collapse comes after negotiations with key landlord Westfield broke down.
The department store’s chief executive addressed staff this morning at the company’s Melbourne headquarters.
The retailer is behind on rental payments, and its collapse will leave staff and suppliers, such as fashion brands, in the dark.
It is expected to rationalise store numbers, with it currently having 38 sites in Australia.
McGrath Nicol has been appointed as the voluntary administrator.
Trading to continue
Separately Hilco, which is one of its lenders, has appointed Christopher Hill, David McGrath and Joanne Dunn of FTI Consulting as joint and several receivers…