David Jones shuts 19 stores as mortgage stress hits outer suburbs
David Jones will close 19 stores across Australia and New Zealand, with most in outer suburbs experiencing severe mortgage stress.
The 188-year-old David Jones announced Wednesday it would close 19 stores, mostly in some outer suburbs. Nine are in Westfield shopping centres, affecting Parramatta, Campbelltown, Glen Waverley and the Gold Coast.
Some outer suburbs are experiencing severe mortgage stress. Households there are more than twice as likely to struggle with repayments as the national average, according to S&P data released this week.
Five interest rate rises in 2026 have made things harder for newer suburban families. Westfield owner Scentre had offered DJ discounted rents to keep trading after DJ stopped paying rent in September.
Retail experts see the closures as a chance to attract new brands. Shopping centres are shifting away from big anchor department stores toward mixed spaces including health, gyms, libraries and childcare.
- 19 across Australia and New Zealand
- Stores closing
- 188 years old
- David Jones age
- Five in 2026
- Interest rate hikes
- 2x national average
- Mortgage stress ratio
Why it mattersThe closures signal that suburban mortgage stress is severe enough to sink major retailers and mark the end of the anchor-store era.
AustraliaAustralian outer suburbs are losing major shopping options while families there face the worst mortgage stress in the country.
✓ Claims checked against the source. checked 1 d ago
