Australia’s biggest shopping centre operator has revealed its exposure to iconic retailer David Jones, which is reportedly on the verge of collapse.

Westfield owner Scentre Group said on Wednesday it had received $45 million in gross rent from the upmarket department store chain in 2026, and its rent was paid only up until September 30.

Citing multiple sources, The Australian Financial Review reported David Jones’ directors are expected to appoint insolvency and restructuring firm McGrathNicol as voluntary administrators on Thursday, after talks with landlords broke down.

Representatives for David Jones and McGrathNicol did not immediately respond to messages seeking comment.

Scentre Group said gross rent from David Jones represented about 1.8 per cent of the group’s total and it had $30 million in bank guarantees from the department store, equivalent to eight months of rent.

“Scentre Group notes recent media reports regarding David Jones and its owner Anchorage Capital Partners,” it said.

Seventeen of David Jones’ 38 locations across Australia and New Zealand are in Westfield malls: 16 in Australia and one in Auckland.

David Jones has not yet filed its 2025/26 financial accounts, missing a deadline at the end of October, a spokesman for the Australian Securities and Investments Commission said late on Tuesday.

The retailer posted a $95.5 million loss in 2024/2025, up from $74 million in 2023/24.

Scentre boss Elliott Rusanow told The Australian the company had offered assistance to David Jones to help it retain staff, trade through Christmas and exit some of its tenancies. It was declined by the retailer’s private equity owner.

Rusanow said the offer was “very generous” but offered no further details.

“The decision of what happens with David Jones is actually determined by its owner, Anchorage, and we have been in discussions with Anchorage,” he told the paper.

“We made a very generous offer to Anchorage that would have facilitated David Jones being able to continue trading, particularly through this very busy period, keep people employed, keep their doors open for their customers.

“It seems they have rejected that offer.”

On Tuesday, a representative for David Jones said the 188-year-old chain was continuing to operate all 38 of its stores.

“The company does not comment on speculation regarding potential store closures,” a spokesperson said.

Australian Retail Council chief executive Chris Rodwell said David Jones was one of the nation’s oldest and most celebrated brands.

“It has served generations of Australians and holds a special place in our retail history,” he said.

The pressures facing Australian retailers were not new and the council had been sounding the alarm about them for some time.

Like many retailers, the upper-mid-range department chain has struggled to stay relevant in the era of online shopping, fast fashion and ultra-cheap overseas imports.

David Jones had about 6730 employees as of March, according to workplace data platform Revelio Labs.

Its first store was opened in Sydney’s city centre in 1838 by Welsh-born merchant David Jones, making it the world’s oldest continually operating department store still trading under its original name.

-AAP