David Jones on brink of collapse with five more Westfield stores at risk
David Jones missed a second filing deadline and received emergency funding. It now plans to close at least five stores.
David Jones has failed to file its financial accounts with ASIC by the October 30 deadline. This is the second year in a row it has missed the filing date.
The department store's auditor PwC has not yet signed off on the accounts. In late October, the struggling retailer received $10 million emergency funding from its senior lender.
This money allows it to operate through Christmas. The company is now considering closing at least five Westfield locations.
These are Carousel in Perth, Parramatta and Hornsby in Sydney, Woden in Canberra, and Southland in Melbourne. David Jones currently operates 38 stores across Australia and New Zealand.
It plans to reduce this to between 12 and 20. Store closures follow two NSW locations shutting in mid-January.
- 38 (Australia and New Zealand)
- Current stores
- 12 to 20
- Target store count
- $10 million (late October)
- Emergency funding
- October 30 (second year)
- Filing deadline missed
Why it mattersAustralia's oldest department store is at critical juncture; store closures will affect thousands of jobs and change shopping options in major cities.
AustraliaAustralians shopping at David Jones in Perth, Sydney, Canberra and Melbourne could see their local stores close. The chain employs thousands and operates across the country; its potential collapse would reshape Australian retail.
✓ Claims checked against the source. checked 2 h ago
