David Jones to close half its stores triggering mass job losses under ‘urgent restructure’
Summary
Australian department store chain David Jones plans to close 19 of its 38 stores as part of an urgent restructure. Receivers say the stores will keep trading for now and are expected to close by the end of the year, while administrators seek a buyer or new capital.Key Facts
- David Jones employs more than 6,000 people across 38 stores.
- Receivers FTI Consulting began consulting staff linked to the 19 stores marked for closure.
- The stores are expected to stop trading by the end of 2026, though no final closure date has been set.
- Administrators McGrathNicol are seeking a buyer or a fresh injection of capital.
- David Jones entered voluntary administration last week after years of losses.
- Some small suppliers are owed money for stock sent as early as April.
- Private equity owner Anchorage Capital is expected to propose buying the chain back.
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