Business
Australia's oldest department store David Jones folds after 188 years
The brand's 38 physical stores and online site will continue to operate while receivers review its operations.
BBC Business•
David Jones, Australia's oldest department store chain, has gone into voluntary administration, putting thousands of jobs at risk.
It comes after years of financial struggles for the 188-year-old retailer - known locally as DJs - as customers desert traditional shops for online shopping.
David Jones's physical and online stores will continue to operate while receivers FTI Consulting review the company, said voluntary administrators McGrathNicol.
By appointing administrators and receivers, David Jones will get "breathing space" and a chance to restructure the business, Hill said.