David Jones, Australia’s oldest department store chain founded in 1838, entered voluntary administration on Thursday, November 5, 2026 — the first time in its 188-year history.
McGrathNicol was appointed voluntary administrator and FTI Consulting was appointed receiver and manager. A sale or recapitalisation process will begin immediately.
The collapse followed the breakdown of rent talks with its biggest landlord, Scentre Group — owner of Westfield — which is landlord to 17 of the chain’s 38 stores. David Jones had not paid rent since September.
All 38 stores and the online business will keep trading while administrators review the business, and more than 6,000 staff face an uncertain future. Scentre Group told the ASX it holds about $30 million in bank guarantees from David Jones, equal to about eight months’ gross rent.
The administration comes seven weeks before Christmas and two days after the Reserve Bank lifted the cash rate for the fifth time in 2026. David Jones reported a pre-tax loss of $95.5 million for the year to June.
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