What David Jones can teach small business owners about letting go

详细摘要

As iconic retailer David Jones enters voluntary administration, familiar lessons and patterns start to emerge - highlighting the principle to protect the need, not the format. The…

This week we saw David Jones enter voluntary administration for the first time in its 188 years. Over 6,000 employees across Australia and New Zealand are waiting to hear what that means for them.

It is the latest legacy Australian retail brand to go through the same thing. In July this year, footwear retailer Betts entered voluntary administration, although it has now secured a $13.3 million rescue deal.

In September, fashion brand Cue Clothing entered receivership, and 31 stores have already been earmarked to close.

Consumers visited businesses like David Jones, Betts and Cue for a few reasons; because they were somewhere to find things, they offered someone’s taste to trust, or they suited an occasion someone wanted to dress up for.

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