David Jones enters voluntary administration, putting 6,000 jobs at risk
Business
David Jones, Australia's oldest and most iconic department store, has gone into voluntary administration after 188 years in business.
The move puts around 6,000 jobs in jeopardy and highlights how tough it's become for traditional stores to keep up with online shopping and fast-fashion brands.
Scentre Group rent dispute triggers administration
Talks broke down with Scentre Group (the folks behind Westfield malls) over unpaid rent at 17 locations, which led to administrators stepping in.
CEO Erica Berchtold says there's still a plan to turn things around.
For now, stores (including the famous Sydney and Melbourne flagships) are staying open as options like restructuring or selling are explored.