An iconic department store has plunged into voluntary administration after 188 years of trading. David Jones is famed for being the oldest continuously operating department store in the world still under its original name.
Fears now surround the future of the historic retail giant, which employs around 6,000 staff. David Jones’ owners say its 43 stores across Australia and New Zealand attract about 50 million visits annually and serve five million customers, including at flagship stores in Sydney and Melbourne.
The move to declare voluntary administration comes after David Jones failed to pay rent to Westfield, whose shopping centres host a number of David Jones stores, reports the Daily Mail.
Dozens of stores are expected to close before…