David Jones Has Collapsed, What Happens Now?
The first creditors' meeting will be held on Nov. 10, where creditors will discuss the voluntary administration process.
TL;DR
- David Jones has entered voluntary administration.
- McGrathNicol is now in control of the business.
- Hilco, the major secured creditor, is owed over $200 million.
- Hilco has appointed a receiver to protect its assets.
- The first creditors' meeting is scheduled for November 10th.