One of Australia’s most recognisable retail institutions, David Jones, has entered voluntary administration after 188 years in business, putting thousands of jobs at risk and raising questions about the future of its stores.
Founded in Sydney in 1838 by Welsh immigrant David Jones, the department store chain is widely regarded as the world’s oldest continuously operating department store. Its move into administration marks a major moment for Australia’s retail industry, which has been grappling with changing shopping habits, rising operating costs and increased competition from online retailers.
The company entered voluntary administration on November 5, 2026, following financial difficulties and failed negotiations with Scentre Group, the owner of Westfield shopping centres. David Jones had reportedly fallen behind on rent payments, with Scentre confirming that the retailer had paid rent only up to September 30.
McGrathNicol has been appointed as voluntary administrators, while FTI Consulting has taken control of the business as receiver and manager. The firms will assess the retailer’s financial position and explore options to recapitalise the business or sell it as a going concern.
Despite the development, David Jones’ physical and online stores will continue operating while the process unfolds. The company currently has 38 stores across Australia and New Zealand and employs approximately 6,000 people.
The financial troubles follow years of pressure on the traditional department store model, as consumers increasingly turn to online shopping and fast-fashion retailers. Rising costs, supply-chain challenges and a retail footprint considered too large for current trading conditions have also contributed to the company’s difficulties.
David Jones was acquired by private equity firm Anchorage Capital Partners in 2022, after previously being owned by South African retail group Woolworths Holdings.
Chief executive Erica Berchtold said the company had developed a plan to reset the business and would work with administrators, receivers and its secured lender to pursue that strategy.
While the appointment of administrators does not automatically mean the brand will disappear, the process leaves its long-term future uncertain. Potential store closures, restructuring and job losses remain among the issues to be assessed.
For generations of Australians, David Jones has been more than a department store, serving as a familiar destination for fashion, luxury goods and Christmas shopping traditions. Its current crisis marks a significant turning point for a retailer that has survived nearly two centuries of changing economic conditions.
