David Jones has faced some of the toughest trading conditions in the past six decades as cost-of-living pressures have crushed consumer confidence.
David Jones, the 188-year-old upmarket department store chain, is set to be tipped into administration after talks with its landlords over the future of its stores broke down.
The company’s directors are expected to name insolvency firm McGrathNicol as voluntary administrator, while David Jones’ lender Hilco Capital is expected to appoint FTI Consulting as receivers, as first reported by this masthead on Wednesday.
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Lift operators, bra fitters and lying sales assistants – I mourn you all.
After 188 years, David Jones announced it would close 19 stores, most of them in Sydney's outer suburbs.
See the full list of store closures.
Talks about the department stores financial troubles and restructuring scenarios started months ago, a report to creditors says.
