David Jones Enters Administration After Landlord Claims Stores Behind on Rent
- On Thursday, directors of 188-year-old David Jones are expected to appoint insolvency firm McGrathNicol as voluntary administrators after negotiations with landlords broke down.
- The retailer failed to file its 2026 financial accounts with the Australian Securities and Investments Commission by the October 30 deadline; auditor PwC has not signed off on the figures.
- Westfield owner Scentre Group disclosed on Wednesday it received $45 million in rent from David Jones in 2026 and holds $30 million in bank guarantees covering eight months of rent.
- The retailer reportedly plans to slash its 38 current locations down to 12, including closing up to 26 stores with five in Westfield shopping centres.
- Lender Hilco Capital provided additional funding last week to support the retailer through December, even as Country Road Group and other brands withdraw concessions from the network.
46 Articles
46 Articles
David Jones, Australia's oldest department store at 188 years old, has entered voluntary restructuring after facing ongoing financial difficulties amidst competition from online businesses and rising costs.
Australian retailer David Jones enters administration and faces sale, media reports - Regional Media News
SYDNEY, Nov 5 (Reuters) - Australia's 188-year-old department store chain, David Jones, was placed into voluntary administration on Thursday after negotiations with landlord Scentre Group over outstanding rental payments broke down, media reported. Employees were informed the retailer's lenders had appointed McGrathNicol as administrators and [...]
David Jones enters administration after landlord claims stores behind on rent
Save (0) Please login to bookmark Close Username or Email Address Password Remember Me Rising costs and evolving shopping trends have forced 188-year-old department store David Jones into voluntary administration, a day after its landlord revealed the retailer had not paid rent since September. Subscribe to Lawyerly to access this article. Already a subscriber? Username or Email Address …
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