End of an era: David Jones goes into voluntary administration

David Jones has entered voluntary administration after owner Anchorage Capital Partners failed to secure a rescue deal with landlords, leaving the future of the 188-year-old department store chain uncertain ahead of Christmas.

According to The Australian, McGrathNicol has been appointed voluntary administrator. Employees were due to be briefed at a national town hall meeting later that morning. 

Landlord talks break down

The appointment follows a breakdown in negotiations with major landlords, including Westfield owner Scentre Group.

Scentre said David Jones had paid rent up to 30 September but had since fallen into arrears. The retailer occupies space at 17 Westfield locations. 

Anchorage’s proposed rescue involved reducing the business to 12 major stores. Landlords rejected requests for rent deferrals and changes to lease arrangements. 

Scentre chief executive Elliott Rusanow told the publication that the shopping centre operator had offered support to keep the retailer trading.

“We have made a generous offer to Anchorage Capital Partners that would have facilitated the continuation of David Jones trading,” he said.

“That offer has disappointingly been rejected by them.” 

Christmas trading in focus

The administration comes at a critical point in the retail calendar, with Black Friday and Christmas trading approaching.

David Jones’ lender, Hilco Capital, said before the appointment that it had provided additional funding to build stock levels ahead of the festive shopping period. 

The retailer’s financial difficulties follow years of losses. It recorded a pre-tax loss of $95.5 million in 2025, following a $74.1 million loss the previous year, according to The Daily Telegraph.

Anchorage acquired David Jones from South Africa’s Woolworths Holdings in late 2022. The administration now puts the department store’s next chapter in the hands of insolvency specialists, with staff, suppliers and landlords awaiting details of the process.