Board to decide David Jones fate within 24 hours as Westfield demands mount
The 188-year-old department store chain has not paid rent since September and faces possible administration.
David Jones's board will decide within 24 hours whether to put the retailer into administration. The chain has not paid rent to Westfield landlords since September and is in breach of its contracts.
Westfield's owner Scentre Group offered a lifeline to David Jones's private equity owner, Anchorage Capital Partners, but the offer was rejected. The store operates 43 locations across Australia and New Zealand.
Thousands of jobs could be lost if the board approves administration. David Jones also failed to file its financial accounts on time for a second consecutive year.
- 17 stores
- Westfield locations occupied
- September 2026
- Rent unpaid since
- 43 locations
- Total store network
- $45 million
- Bank guarantees at stake
Why it mattersA collapse would wipe out thousands of retail jobs and reshape the department store landscape in Australia's cities.
AustraliaMajor job losses expected across Australian retail; economic shock for the sector already hit by rising interest rates and weak consumer spending.
Corroborated bythenightly.com.au
