David Jones wrongly believed it could be exclusive and everywhere. Can the 188-year-old institution keep the lights on for Christmas?
News Source
β’Thu, 05 Nov 2026 14:00:28 GMT
π° What Happened
David Jones has gone into administration after falling behind on rent. The 188-year-old department store could not reach a deal with its owner, Anchorage Capital, its lenders and its landlords. Receivers from FTI Consulting have taken control and are preparing the business for sale. About 6,000 staff across 38 stores do not know if their jobs are safe. The receivers have warned that difficult decisions are coming, and the least profitable stores in outer suburbs and regional towns are most at risk.
π The Backstory
David Jones was founded in 1838 and is the world's oldest department store still trading under its original name. It built its name on luxury brands and careful service. In recent decades it chased growth by opening in suburban shopping centres, where it sold much the same products as cheaper rivals. Retail experts say the fix is to shrink back to a small group of premium stores. Brian Walker of Retail Doctor Group expects only 12 to 15 stores within five years.
π― Why It Matters
Thousands of workers face a nervous Christmas, and the collapse tests whether an old luxury brand can survive online shopping and cheaper rivals.
David Jones has gone into administration after falling behind on rent. The 188-year-old department store could not reach a deal with its owner, Anchorage Capital, its lenders and its landlords. Receivers from FTI Consulting have taken control and are preparing the business for sale. About 6,000 staff across 38 stores do not know if their jobs are safe. The receivers have warned that difficult decisions are coming, and the least profitable stores in outer suburbs and regional towns are most at risk.
David Jones was founded in 1838 and is the world's oldest department store still trading under its original name. It built its name on luxury brands and careful service. In recent decades it chased growth by opening in suburban shopping centres, where it sold much the same products as cheaper rivals. Retail experts say the fix is to shrink back to a small group of premium stores. Brian Walker of Retail Doctor Group expects only 12 to 15 stores within five years.
Thousands of workers face a nervous Christmas, and the collapse tests whether an old luxury brand can survive online shopping and cheaper rivals.