David Jones collapses into voluntary administration after 188 years

David Jones, Australia's oldest department store chain, has entered voluntary administration, placing about 6,000 jobs and 38 stores at risk.

• The board appointed McGrathNicol as administrators while main financier installed FTI Consulting as receivers to control operations.
• Administrators McGrathNicol said the retailer's physical and online stores will continue to operate while receivers review the company.
• Scentre Group, which owns Westfield, said David Jones had not paid its October rent and was in breach of its tenancy agreement.
• David Jones CEO Erica Berthold said the brand has a "well-developed plan" to "reset the business for the future."