Australian department store chain enters administration after 188 years

David Jones, Australia's oldest retailer, has entered administration after 188 years of operation. The recognisable upmarket department store chain, which predates Harrods, faced this move after landlords pulled the plug. The administration process is intended to provide the company with necessary breathing space while a potential buyer is sought for the historic brand. This marks a significant shift for one of the most established retail names in the Australian market, ensuring a search for new ownership.