David Jones entered voluntary administration on Nov. 5 after negotiations with landlord Scentre Group over outstanding rental payments broke down, placing Australia’s oldest department store chain under review. McGrathNicol executives were appointed voluntary administrators and FTI Consulting staff were named receivers, while the retailer’s physical and online stores continue trading. The firms are seeking buyers or offers to recapitalise the business. Owned by Anchorage Capital Partners since 2023, David Jones has about 6,000 employees and 38 locations across Australia and New Zealand. The retailer was founded in 1838 and has faced prolonged pressure from online and fast-fashion competition, rising costs, an outdated store footprint and supply-chain challenges.