Australia's David Jones collapses into voluntary administration
· Economy · Australia
Australia's premier upmarket department store David Jones has collapsed into voluntary administration, putting thousands of jobs at risk and leaving the future of the 18-store chain in jeopardy. Administrators were appointed on Thursday morning. The collapse of one of Australia's best-known retail names follows years of pressure on department stores from online shopping and changing consumer habits.
Why it matters：The failure of a landmark retailer signals deepening stress in physical retail and could ripple through landlords, suppliers and employment.
Key points
- Administrators were appointed on Thursday morning
- The chain has 18 stores
- Thousands of jobs are at risk
Sources (original reporting)
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