David Jones Collapses Into Administration

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 2 Nov

   South Africa's Woolworths Holdings bought David Jones for about $2.1billion in 2014 before completing the reported $100million sale of its operating business to Anchorage Capital Partners in 2023.

   2 outlets · Daily Mail
2. 3 Nov

   Thousands of David Jones workers could lose their jobs amid speculation the retailer could be put into administration as early as this week if it cannot reach an agreement to close some of its 38 stores and receive rent concessions to help it survive.

   2 outlets · Sydney Morning Herald
3. 4 Nov

   David Jones’ major landlord - property giant and Westfield owner, Scentre - says the struggling department store has not paid rent since September as talks with the group’s landlords to stave off financial collapse teeter on the edge of failure.

   4 outlets · Sydney Morning Herald
4. 5 Nov

   The iconic 188-year-old department store chain entered voluntary administration and receivership this morning.

   2 outlets · ABC News (Australia)

Coverage 17 articles

• 5 Nov Australia's oldest retailer enters administration after 188 yearsDavid Jones, Australia's oldest retailer founded in 1838, has entered voluntary administration after 188 years of operation due to rising costs and supply chain pressures. With about 6,000 employees across 38 stores in Australia and New Zealand, the company is now seeking offers for a recapitalization or sale while operating under FTI Consulting’s control as receivers. The announcement highlights the challenges…The Independent
• 5 Nov Which David Jones stores are set to close... and will there be a fire sale? Major questions answered as department store giant collapses into administrationDavid Jones, a 188-year-old Australian department store chain with 38 stores and 6,000 employees, has entered voluntary administration after failing to pay rent. Retail analyst Barry Urquhart suggests that between eight and ten underperforming suburban stores might close, while CBD locations are better positioned to survive due to higher foot traffic. Shoppers may be concerned about the validity of gift cards and…Daily Mail
• 5 Nov What the collapse of David Jones means for Brisbane’s retail landscapeDavid Jones, one of Australia's oldest department store chains, was placed under administration on Thursday due to financial struggles, marking a significant shift for Brisbane's retail landscape. This development is expected to lead to closures at most of the retailer’s Queensland locations except possibly Chermside and Pacific Fair stores. Financial analysis suggests that older shopping centers may lose their…Sydney Morning Herald
• 5 Nov 'Sombre' mood inside David Jones stores as shoppers redeem gift cardsDavid Jones, an iconic 188-year-old department store chain in Australia, entered administration and receivership recently, leading to a rush by customers to spend their gift cards before the retailer's future becomes uncertain. Shoppers at the Highpoint Shopping Centre in Melbourne reported a somber atmosphere as they hurried to redeem their gift cards, with one customer spending $300 on items she might not have…ABC News (AU)
• 5 Nov One is the 188-year-old grand dame of the retail world. The other is a 13-year-old tech darling. Are David Jones and Canva's troubles the 'canaries in the coal mine' for the Australian economy?The article discusses recent job cuts at tech company Canva and the administration takeover of department store David Jones within a 24-hour period. Canva laid off over 1,200 employees globally, while administrators took control of David Jones after it failed to pay rent for months. The piece contrasts these events as examples of economic challenges facing both established businesses and newer tech companies in…Daily Mail
• 5 Nov Australia's oldest department store David Jones collapses after 188 yearsDavid Jones, Australia’s oldest department store chain founded 188 years ago, has entered voluntary administration due to financial struggles and declining customer visits as shopping habits shift towards online platforms. The company employs around 6,000 staff across its 38 physical stores, with 17 located in Westfield centers. Despite the challenges, CEO Erica Berthold stated that David Jones has a plan to reset…BBC
• 4 Nov David Jones goes into administration, with store closures expected and thousands of jobs at riskDavid Jones, Australia’s premier upmarket department store, has entered voluntary administration due to years of financial losses and underperformance, putting thousands of jobs at risk. The retailer owes rent to its primary landlord, Scentre Group, leading to a breakdown in negotiations. As a result, the company appointed administrators from McGrathNicol, followed by FTI Consulting as receivers who will manage…The Guardian
• 4 Nov Breaking: Retailer's future in doubt as David Jones calls in administratorsDavid Jones, an Australian department store founded 188 years ago, has been placed into receivership after failing to reach a deal with its major landlord Westfield regarding rental payments. This development leaves the future of David Jones uncertain and affects both employees and suppliers like fashion brands. The company now plans to reduce its number of stores from the current total of 38 sites.ABC News (AU)
• 4 Nov David Jones collapses, store closures expected before ChristmasDavid Jones, an 188-year-old Australian department store chain, has entered administration and receivership following the failure of negotiations between private equity owners and major landlord Scentre Group regarding rent and store closures. Administrators from McGrathNicol and receivers from FTI Consulting have been appointed to manage the company until it can be restructured or sold. FTI is expected to announce…Sydney Morning Herald
• 4 Nov David Jones is on shaky ground. Here's what consumers should knowRetailer David Jones faces potential voluntary administration due to rent arrears and financial struggles. Consumer policy expert Erin Turner advises customers to use any gift cards immediately, as holding onto them could lead to significant losses if the company enters liquidation, with gift card holders classified as unsecured creditors who may recover only a fraction of their value or nothing at all. Professor…ABC News (AU)

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