David Jones to close half its stores triggering mass job losses under ‘urgent restructure’
Australian department store chain David Jones has entered voluntary administration and plans to close half of its 38 stores. The company is undergoing an urgent restructure after years of financial losses and struggles to compete with online retailers.
Why it matters
This represents a significant collapse in the Australian retail sector, impacting thousands of employees and signaling ongoing challenges for traditional brick-and-mortar department stores.
People walk past a David Jones store in Melbourne. Half of the company’s stores will close under an urgent restructure. Photograph: Con Chronis/AAP People walk past a David Jones store in Melbourne. Half of the company’s stores will close under an urgent restructure. Photograph: Con Chronis/AAP David Jones David Jones to close half its stores triggering mass job losses under ‘urgent restructure’ Australia’s oldest department store collapsed into voluntary administration last week after years of steep losses
Prefer the Guardian on Google David Jones is set to shutter half its department store network, triggering mass job losses under a sweeping restructure, receivers FTI Consulting said on Wednesday.
David Jones employs more than 6,000 staff across 38 stores.
FTI said in a statement that it would proceed with an “urgent restructure of the business”.
Headlinne story · 7 newsrooms
David Jones Receivers Plan to Close Half of Retailer’s Store Network
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5 other newsrooms covered this event. We read each version separately.
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