David Jones suppliers left owed millions as retailer collapses
Small suppliers owed by David Jones sit at the bottom of the creditors' queue and face minimal chance of recovering their money.
David Jones, the 188-year-old retailer, entered receivership this week. The company has lost tens of millions annually.
Private equity firm Anchorage bought it three years ago for $100 million. The company has since lost $74 million in 2023-24 and $62 million in 2024-25.
Suppliers are now in limbo. David Jones is asking them to keep providing goods, but debts owed before administration began are no longer guaranteed.
Slowdown Studio is owed $75,000 for handwoven blankets. Start-up label Beysis is owed six figures.
Both face a grim reality. Secured creditors like Hilco come first, then employees owed wages.
Suppliers sit at the bottom, worse off only than shareholders, according to experts. Luxury brands including Gucci, Valentino and Saint Laurent are already stripping stock.
The first creditors meeting is November 17.
- 188 years old
- Retailer age
- $100 million
- Acquisition price
- $75,000
- Slowdown Studio debt
- November 5
- Administration start date
Why it mattersSmall businesses supplying major retailers face catastrophic financial risk if the retailer collapses before paying them.
