Australia's oldest department store David Jones collapses after 188 years
Source: BBC ·
The brand's 38 physical stores and online sites will continue to operate while receivers review its operations.
From the source
Australia's oldest department store, David Jones, has gone into voluntary administration David Jones, Australia's oldest department store chain, has gone into voluntary administration, putting thousands of jobs at risk. It comes after years of financial struggles for the 188-year-old retailer - known locally as DJs - as customers desert traditional shops for online shopping. David Jones's physical and online stores will continue to operate while receivers FTI Consulting review the company, said voluntary administrators McGrathNicol. "David Jones is an iconic company and so many Australians have stories and memories of visiting DJ's stores," said its CEO Erica Berthold, adding the brand has a "well-developed plan" to "reset the business for the future". Berthold thanked "customers, our team members and our partners for their continued support of David Jones through this period". David Jones employs about 6,000 staff and has 38 physical stores, with 17 of those in Westfield shopping…
BestAIBroker analysis
- Finance-aware sentiment: negative (-0.40 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 33/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.