David Jones goes into administration, with thousands of jobs at risk

David Jones, the 188-year-old premier upmarket department store, has collapsed into voluntary administration. This decision follows years of steep losses and underperforming stores, resulting in rent arrears and failed negotiations with Scentre Group. The move puts thousands of jobs at risk, specifically affecting approximately 6,000 staff across 43 stores in two countries. With 50 million annual visitors, the retailer's future remains uncertain as several store closures could occur imminently following the appointment of administrators on Thursday.