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Store Closures Predicted as David Jones Fights for Survival
Owners are weighing store closures and a smaller network as cash-flow problems and brand departures pressure the department store, with Hilco funding December trading.
- David Jones confirmed it is reviewing its Australian store portfolio and supplier trading terms as private equity owner Anchorage Capital pushes for decisions by Christmas regarding the retailer's long-term future.
- Intensifying financial pressure prompted this review after David Jones reported a $95.5 million pre-tax loss for the year ending June 29, 2026, with sales plunging nearly 9 per cent amid fierce competition.
- Country Road Group axed nearly 100 concessions across the 38-store network while luxury labels including Dior, Gucci, and Chanel have pulled product lines from the retailer.
- Primary lender Hilco Global provided additional capital to support inventory ahead of Christmas, though company directors remain in "intense" discussions regarding potential store closures to manage cash-flow issues.
- Retail expert Barry Urquhart warned the 188-year-old chain faces limited turnaround options, claiming the business is "too small to be big and too big to be small" in the current retail landscape.
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13 Articles
13 Articles
Sydney Morning Herald+3 Reposted by 3 other sources
D-day for David Jones: Department store’s future to be decided by Christmas
The private equity owners of the 188-year-old retailer are hoping to strike a deal with landlords and suppliers sooner rather than later.
·North Sydney, Australia
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Coverage Details
Total News Sources13
Leaning Left4Leaning Right4Center3Last UpdatedBias Distribution37% Left, 36% Right
Bias Distribution
- 37% of the sources lean Left, 36% of the sources lean Right
37% Left
L 37%
C 27%
R 36%
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