Australia's historic department store chain, David Jones, plans to shutter approximately half of its retail locations as part of a sweeping corporate overhaul, according to an announcement by receivers on Wednesday.
The restructuring comes just days after the enterprise entered voluntary administration following a prolonged period of severe financial deficits. The company currently operates a network of 38 branches and maintains a workforce exceeding 6,000 employees.
Additional information regarding the timeline of the closures and the exact impact on personnel is expected to emerge as the situation develops.
