00:00Iconic Australian department store David Jones has collapsed into voluntary administration.
00:06Having survived 188 years in the Australian retail landscape, the brand's future is now in doubt.
00:20It comes after negotiations deteriorated with its key landlord, Westfield. It's understood the
00:27retailer is behind on rental payments. There are currently 38 stores across Australia and New Zealand.
00:34Staff and suppliers have been left in the dark about the future of the stores.
00:46National Secretary of the SDA Employees Association,
00:50Jared Dwyer, said it was seeking to protect and prioritise the legal and financial entitlements
00:57of any workers affected by redundancies. McGrath Nicoll has been appointed as voluntary
01:03administrators, and separately its secured lender Hilco has appointed Christopher Hill,
01:09David McGrath, and Joanne Dunn of FTI Consulting as joint and several receivers and managers.
01:18There's no other store like David Jones
01:24Hmm
