Australia's oldest department store chain faces mass job losses following its collapse into voluntary administration.
David Jones is set to close half of its department store network, resulting in mass job losses as part of an urgent restructure. The announcement was made on Wednesday by receivers FTI Consulting following the iconic retailer's collapse into voluntary administration last week.
The sweeping closures come after years of steep financial losses for Australia's oldest department store chain. Prior to the restructure, David Jones operated 38 stores and employed a workforce of more than 6,000 staff across the country.
