Future of 188-year-old department store hangs in balance after no agreement was struck with Westfield owner Scentre Group
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David Jones is poised to fall into administration after 11 th-hour talks between its private equity owner and primary landlord broke down, putting the future of the 188-year-old upmarket department store chain at risk.
The upheaval follows years of steep losses, weak consumer spending and a string of underperforming stores that left the heritage retailer defaulting on its rent. Continue reading...