David Jones expected to fall into administration after failed 11th hour talks with biggest landlord
News Source
β’Wed, 04 Nov 2026 06:08:02 GMT
π° What Happened
David Jones is expected to fall into administration after last-minute talks with its biggest landlord failed. The Australian department store chain has been losing money as rents stay high and shoppers move online.
Administration would hand the business to independent managers who try to rescue it or sell its parts. Stores usually keep trading while they decide what to do.
The collapse would put thousands of retail jobs at risk and leave shopping centres with large empty spaces. Suppliers and smaller brands that sell through its stores would also lose money.
π The Backstory
David Jones was founded in Sydney in 1838 and is one of Australia's oldest department stores. South Africa's Woolworths Holdings bought it in 2014, then sold it to Anchorage Capital Partners in 2022.
Australian department stores have lost ground to online shopping and discount chains for more than a decade. Rising rents and weak household spending have made a recovery harder.
Other well-known retail names in Australia and Britain have collapsed in similar ways, with landlords often taking the biggest losses.
π― Why It Matters
Department stores anchor shopping streets and employ local people. A collapse hits staff, suppliers and the smaller shops that rely on the foot traffic.
David Jones is expected to fall into administration after last-minute talks with its biggest landlord failed. The Australian department store chain has been losing money as rents stay high and shoppers move online.
Administration would hand the business to independent managers who try to rescue it or sell its parts. Stores usually keep trading while they decide what to do.
The collapse would put thousands of retail jobs at risk and leave shopping centres with large empty spaces. Suppliers and smaller brands that sell through its stores would also lose money.
David Jones was founded in Sydney in 1838 and is one of Australia's oldest department stores. South Africa's Woolworths Holdings bought it in 2014, then sold it to Anchorage Capital Partners in 2022.
Australian department stores have lost ground to online shopping and discount chains for more than a decade. Rising rents and weak household spending have made a recovery harder.
Other well-known retail names in Australia and Britain have collapsed in similar ways, with landlords often taking the biggest losses.
Department stores anchor shopping streets and employ local people. A collapse hits staff, suppliers and the smaller shops that rely on the foot traffic.