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business

David Jones set to announce store closures today

Receivers for David Jones will announce store closures within hours to revive the business.

Updated 2 min read

Published by Agyata NewsroomEditorial policyCorrections

Key points

  • David Jones entered voluntary administration on Thursday after years of falling sales.
  • Foot traffic and sales at David Jones stores and online have reached record levels since receivership.
  • The retailer recorded a $95.5 million loss in 2024/25, worse than the $74 million loss in 2023/24.

Why it matters. The outcome of this administration process will determine whether the 188-year-old brand survives or if some of its 38 stores and 6,000 jobs are lost.

Updated Sources: Smh, Theage, Thewest, Afr

Receivers managing the troubled department store chain David Jones plan to reveal upcoming store shutdowns within hours. Suppliers were informed that these closures are necessary as the administrators try to restore viability to the struggling business. The announcement targets specific locations to stabilize the company's financial position.

Latest updates

David Jones set to announce store closures today

David Jones is set to announce store closures today as receivers in charge of the embattled department store owner attempt to make the business viable again. Suppliers have been informed that these closures will be announced within hours, signaling a critical turning point for the retailer. This move comes amidst ongoing financial struggles and reflects a broader challenge facing traditional department stores in the current retail landscape. The decision aims to streamline operations and potentially stabilize the company's financial position.

SmhTheage

Shoppers back David Jones as administrator seeks buyer

Following its voluntary administration on Thursday, the 188-year-old retailer David Jones has seen a surge in customer foot traffic and sales across its stores and online platform. Receivers Christopher Hill, David McGrath, and Joanne Dunn of FTI Consulting confirmed that this record business activity has led the company to place new orders for replenishment stock with suppliers. Despite some luxury brands removing items from shelves, most trade partners remain supportive as the receivers negotiate to maintain inventory availability. The receivers stated in a Monday statement that these developments highlight the public's strong support for the iconic Australian brand.

ThewestSmhTheage

David Jones Collapse Could Hand Myer a Department Store Monopoly

Sales at the failed retailer David Jones have lagged long-time rival Myer for at least the past decade, according to reporting by The West Australian. Experts quoted in the report say Myer could be the greatest beneficiary of David Jones' collapse. Talks are reportedly under way for Myer to take over the leases of David Jones stores. The outcome could leave Australia with one dominant department store operator, ending a rivalry that has run for 126 years. Other outlets have reported that customers are asking whether gift cards can still be redeemed and whether remaining stock will be discounted.

ThewestSmhTheageAfrWikipedia: Myer

Sources

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