David Jones Enters Voluntary Administration After Massive Losses
David Jones has entered voluntary administration following consecutive yearly losses and a breakdown in rent negotiations with major landlords.
Luxury retailer David Jones entered voluntary administration on November 12, 2026, after reporting pre-tax losses of $74.1 million in 2024 and $95.5 million in 2025. The 188-year-old company collapsed following a breakdown in turnaround negotiations with major landlords, including Scentre Group and Vicinity Centres, regarding lease breaches and unpaid rent.
Chief Executive Erica Berchtold attributed the financial failure to "weak consumer confidence, changing customer behaviour, supplier and funding pressures, and a legacy store portfolio and cost base that could not be reshaped quickly enough."
The administration puts the future of the company's 38-store network in doubt. In the Brisbane CBD, the company was the last remaining traditional department store anchor following the closure of Myer in 2023. Private equity firm Anchorage Capital has indicated it may bid to restructure the business into a "David Jones 2.0" model, which could reduce the store count to as few as 12 locations.
