Australian retailer David Jones collapses after landlord talks fail
Australian department store chain David Jones has entered voluntary administration following failed rent negotiations with landlords. The collapse follows significant financial struggles and a decline in the retail sector's performance.
Why it matters
The insolvency of a major retail chain signals ongoing economic pressure on traditional brick-and-mortar department stores in Australia.
Storied Australian department store chain David Jones has collapsed into administration after a series of crisis meetings between its landlords and venture capital owner. The boards of David Jones and owner Anchorage Capital Partners will place the group into voluntary administration on Thursday after talks broke down. An official statement confirming the appointment of McGrathNicol is expected to be released shortly. Westfield owner Scentre Group is David Jones' biggest landlord with 17 of the retailers' remaining 38 stores in the shopping centre giant's malls. Rent had not been paid since September, leaving the retailer in breach, Scentre Group chief executive Elliott Rusanow said on Wednesday.
Headlinne story · 6 newsrooms
David Jones Appoints Administrators as Unpaid Rent Triggers Retail Collapse
What every outlet reported, where they differ, and how each framed it →
Also covering this story
7 other newsrooms covered this event. We read each version separately.
Major Australian retailer David Jones folds after 188 years in operation
David Jones enters voluntary administration as lender appoints receivers
Australia's oldest department store David Jones collapses after 188 years
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Iconic department store closures expected before Christmas
David Jones on brink of collapse and behind on rent to Westfield stores
David Jones expected to enter voluntary liquidation after landlord talks collapse, Australian media report
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