Shoppers back David Jones as administrator seeks buyer
David Jones is placing orders for more stock after seeing a big increase in customers entering its stores since it fell into administration.
After years of falling sales, shoppers have rushed into David Jones department stores across the country in the days after the retail icon collapsed.
David Jones went into voluntary administration on Thursday, prompting an outpouring of support from consumers, given the pivotal role it’s played as an Australian destination shopping experience for almost two centuries.
Since then, business has soared, prompting the 188-year-old business to increase its floor stock, receivers Christopher Hill, David McGrath and Joanna Dunn of FTI Consulting said.
“Since the receivers’ appointment, foot traffic and sales throughout David Jones stores and online has been at record levels, reinforcing the public’s love for David Jones and support for an iconic Australian brand,” they said in a statement on Monday.
“Following the strong trading in recent days, the receivers are placing orders for replenishment stock in the normal course of business with suppliers that have confirmed trading agreements.”
While some brands, including multiple luxury retailers, have taken stock out of some stores, trade partners have overall been supportive as the receivers negotiate to keep stock available.
David Jones, the world’s oldest department store still trading under its original name, went into administration and receivership after years of mounting losses and following a breakdown of talks with its landlords.
The landlords included Scentre, which owns all the major Westfield shopping centres where many David Jones stores are located.
While David Jones’ administrators from McGrathNicol are running a sale process for the business, speculation continues to mount that some of its 38 stores, including one in Auckland, could close, threatening the jobs of many of its 6000 employees.
“There are no updates to communicate about David Jones’ retail footprint at this time,” its receivers said.
“We would ask that speculation on this matter is avoided out of respect for the real people who are the heart of the David Jones business and continue to put customers first every day.”
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A creditors’ meeting is expected to be held this week.
David Jones recorded a $95.5 million loss in 2024/25, which was worse than the $74 million loss in 2023/24.
The unlisted company’s accounts for 2025/26 are yet to be filed with the corporate regulator.
-with AAP
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