David Jones expected to fall into administration after failed 11th hour talks with biggest landlord
Australian department store chain David Jones is expected to enter administration following failed negotiations with its landlord, Scentre Group. The retailer has struggled with years of financial losses and declining consumer spending.
Why it matters
The potential collapse of a 188-year-old retail institution highlights the ongoing struggles of traditional brick-and-mortar stores in a difficult economic climate.
David Jones’s woes follow years of steep losses and weak consumer spending. Photograph: Joel Carrett/AAP David Jones’s woes follow years of steep losses and weak consumer spending. Photograph: Joel Carrett/AAP David Jones David Jones expected to fall into administration after failed 11th hour talks with biggest landlord Future of 188-year-old department store hangs in balance after no agreement was struck with Westfield owner Scentre Group
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Prefer the Guardian on Google David Jones is poised to fall into administration after 11th-hour talks between its private equity owner and primary landlord broke down, putting the future of the 188-year-old upmarket department store chain at risk.
The upheaval follows years of steep losses, weak consumer spending and a string of underperforming stores that left the heritage retailer defaulting on its rent.
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
Iconic department store closures expected before Christmas
Australian retailer David Jones collapses after landlord talks fail
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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