David Jones store in Newmarket among 19 to close, receivers announce
The David Jones retail chain has announced the closure of 19 stores, including its only New Zealand location in Newmarket. The decision follows the company entering receivership and administration.
Why it matters
The collapse of a major department store chain highlights the ongoing struggles of traditional brick-and-mortar retail against online competition.
<p>Receivers for the David Jones retail chain have announced the Newmarket store will close.</p> <p>In a statement to 1News, Christopher Hill, David McGrath and Joanne Dunn of FTI Consulting confirmed the Auckland department store would be included with 18 others in Australia to be shuttered. </p> <p>"Today, the receivers have made the difficult decision to proceed with an urgent restructure of the business, in line with management’s plan for the future of David Jones that was being worked on prior to the appointment," the statement said. </p> <p>"As part of this restructure, the receivers have commenced an immediate consultation process for all staff associated with 19 stores that have been identified for closure.
Headlinne story · 7 newsrooms
David Jones Receivers Plan to Close Half of Retailer’s Store Network
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