David Jones kept buying despite early financial warnings
Administrators said David Jones's money problems were flagged early, yet it kept buying stock and paid suppliers late.
Administrators for David Jones looked at the department store group's finances as far back as April 2026, about six months before it failed last week. By July, the company's director and its biggest lender met administrators to discuss restructuring.
The director left when that topic came up. During this time, David Jones put small suppliers on longer payment terms.
It forced them to accept bigger discounts to be paid faster. The company kept buying new stock while months behind on paying some brands.
Administrators were not asked to help plan administration until October 22, just weeks before the failure. David Jones went into administration last Thursday after saying it could not pay its debts.
A creditors' meeting is set for November 17. Unsecured creditors, including unpaid suppliers and shoppers with unredeemed gift vouchers, face large losses.
- April 2026
- First financial review
- July 2026
- Restructuring discussion
- October 22
- Administration request
- November 17
- Creditors meeting
Why it mattersThe timeline raises questions about whether leaders acted fast enough to protect suppliers and customers from losses.
AustraliaAustralian suppliers are now unpaid, employees face uncertain futures, and shoppers holding David Jones gift vouchers may lose their money.
