Department store chain David Jones has gone into voluntary administration after rescue talks with Westfield owner Scentre Group collapsed.
Department store chain David Jones has entered voluntary administration after rescue talks with its biggest landlord, Westfield owner Scentre Group, broke down.
Voluntary administration is a process where an independent insolvency expert, known as an administrator, takes control of a company’s operations to assess its financial position and work out the best way forward.
The retailer had not paid rent to Scentre Group since September, putting it in breach of its lease agreements.
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David Jones was founded in 1838 and is the world’s oldest continuously operating department…