David Jones to close half its stores triggering mass job losses under ‘urgent restructure’
AI Summary
Australian department store chain David Jones plans to close half of its 38 stores as part of a major restructuring, with mass job losses expected. The company, which employs more than 6,000 people, entered voluntary administration after years of steep losses.
Australia’s oldest department store collapsed into voluntary administration last week after years of steep losses David Jones is set to shutter half its department store network, triggering mass job losses under a sweeping restructure, receivers FTI Consulting said on Wednesday. David Jones employs more than 6,000 staff across 38 stores. Continue reading...
Markets Deals Real Estate David Jones store closures restructuring administration job losses department stores Australia