Suppliers to David Jones say they could see the “writing on the wall” about the department store’s financial position for months, as unpaid invoices stacked up and phone calls went unanswered.
The 188-year-old company entered into voluntary administration yesterday morning.
But administrators McGrathNicol and receivers FTI Consulting said the company would continue trading while they reviewed operations.
The news sent gift-card holders rushing into stores, but for many suppliers it was an unsurprising development.
Payments delayed
For Sydney-based personalised accessories brand Beysis, landing a deal to put their stock in David Jones last September was a major milestone.
“To be approached and signed as a stockist was a bit of a signal to…