Australia's oldest department store David Jones collapses after 188 years
Australia's oldest department store, David Jones, has entered voluntary administration following years of financial decline. The retailer, which employs 6,000 people, will continue operations while receivers attempt to restructure the business.
Why it matters
The collapse of such an iconic brand highlights the broader struggle of traditional brick-and-mortar department stores against the rise of e-commerce.
Image source, Getty Image caption, Australia's oldest department store, David Jones, has gone into voluntary administration
David Jones, Australia's oldest department store chain, has gone into voluntary administration, putting thousands of jobs at risk.
It comes after years of financial struggles for the 188-year-old retailer - known locally as DJs - as customers desert traditional shops for online shopping.
David Jones's physical and online stores will continue to operate while receivers FTI Consulting review the company, said voluntary administrators McGrathNicol.
"David Jones is an iconic company and so many Australians have stories and memories of visiting DJ's stores," said its CEO Erica Berthold, adding the brand has a "well-developed plan" to "reset the business for the future".
Berthold thanked "customers, our team members and our partners for their continued support of David Jones through this period".
Headlinne story · 6 newsrooms
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