Overview
- Anchorage Capital is in intense negotiations with major landlords, including Westfield owner Scentre, and has set a Christmas deadline to decide David Jones’s future.
- The company missed its October 30 filing deadline with the corporate regulator ASIC, increasing scrutiny of its recent losses and financial position.
- Distressed lender Hilco has provided extra short-term funding ahead of Black Friday and Christmas, while suppliers have tightened trading terms and some brands are pulling concessions.
- Reports say David Jones is planning major store cuts, with estimates ranging from about 12–20 closures to as many as half of its 38 stores, a move that could trigger mass redundancies.
- The union representing staff is preparing to protect workers’ entitlements, and consumer groups warn shoppers to use gift cards though sources say cards remain currently redeemable.