David Jones receives $10m emergency funds as losses mount
The 188-year-old department store got emergency capital from its UK owner and is negotiating with suppliers and landlords about survival beyond 2027.
David Jones has received $10 million in emergency funding from its UK investor Hilco to stock up for Christmas. It's a telling sign of trouble at the iconic retailer.
Losses are accelerating: $95.5 million in the year to June 2025, up from $74.1 million the year before. Major brands like Gucci, Chanel and Christian Dior have scaled back, as have local labels Witchery and Politix.
The new CEO, appointed in June after leading The Iconic, is locked in talks with suppliers and landlords about the store's future beyond 2027. David Jones has been hit by the shift to online shopping and rising cost of living cutting discretionary spending.
A retail expert said the negative cycle is "a really bad look going into Christmas."
- $95.5 million
- Annual loss
- $10 million
- Emergency funding
- 188 years
- Store age
Why it mattersDavid Jones' struggle signals that even major retailers cannot survive on the old department-store model without drastic change.
AustraliaDavid Jones is an Australian icon with thousands of employees. Its survival depends on deep cuts to stores and staff, likely to reshape the Australian retail landscape.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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