Future of department store in jeopardy after administrators appointed on Thursday morningGet our breaking news email, free app or daily news podcastAustralia’s premier upmarket department store David Jones has collapsed into voluntary administration, putting thousands of jobs at risk and leaving the future of the 188-year-old retailer hanging in the balance.The upheaval follows years of steep losses and underperforming stores that left the heritage retailer falling behind on rent, culminating in a breakdown of negotiations with its primary landlord, Westfield owner Scentre Group. Continue reading...
David Jones goes into administration, with store closures expected and thousands of jobs at risk
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Guardian WorldBy Jonathan Barrett Business editor
EXECUTIVE SUMMARY
Future of department store in jeopardy after administrators appointed on Thursday morning Get our breaking news email, free app or daily news podcast Australia’s premier upmarket department store David Jones has collapsed into voluntary administration, putting thousands of jobs at risk and leaving the future of the 188-year-old retailer hanging in the balance. The upheaval follows years of steep losses and underperforming stores that left the heritage retailer falling behind on rent, culminating
Key Takeaways
- David Jones goes into administration, with store closures expected and thousands of jobs at risk.
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Published originally on Guardian World
