David Jones has entered voluntary administration, putting thousands of jobs, and 36 stores, at risk. Photo: Con Chronis/AAP PHOTOS
Australian retailer David Jones has been placed in administration, raising questions about the future of its workforce and customers.
* WHAT DOES GOING INTO VOLUNTARY ADMINISTRATION MEAN?
Voluntary administration is a temporary pause and review mechanism, and provides a struggling company with immediate breathing room.
Dr Tamara Wilkinson from Monash University Faculty of Law says McGrathNicol has taken control over the business, allowing creditors to ultimately determine if the business can be restructured and saved or if it must close down.
Hilco, the major secured creditor owed more than $200 million, has…