Sydney's 188-year-old David Jones enters voluntary administration; 38 stores keep trading as sale process begins

David Jones, Australia's 188-year-old department store chain, entered voluntary administration on Thursday (November 5, Australian time), as rising costs, sluggish retail sales and supply chain pressures weighed on the business. McGrathNicol has been appointed voluntary administrator and FTI Consulting receiver, appointed by the secured lender; the chain's 38 stores across Australia and New Zealand will keep trading. (Photo: file image of the David Jones flagship store in Sydney.)

Sale or recapitalisation process begins immediately

FTI Consulting and McGrathNicol said in a joint statement that a transaction process seeking offers for a recapitalisation of the business or a sale as a going concern will commence immediately, managed by McGrathNicol. David Jones employs roughly 6,000 people across Australia and New Zealand, with stores at 17 Westfield locations. Talks with landlord Scentre Group over unpaid rent broke down, according to reports; Scentre says David Jones paid rent only through September 30.

Founded in 1838; calls itself the world's oldest department store

David Jones was founded in Sydney in 1838 by Welsh immigrant David Jones and describes itself as the world's oldest continuously operating department store. Its current owner, Anchorage Capital Partners, bought the chain from South Africa's Woolworths Holdings in 2022 for a reported price of about A$100 million. The fate of the chain will affect thousands of jobs and the tenant mix of shopping centres across the country.

(Source: Reuters, November 5, 2026.)