David Jones closes 19 stores, owes suppliers $100 million
David Jones is shutting 19 of its 38 stores by year end, halving its ANZ footprint. Receivers from FTI Consulting confirmed the closures Wednesday, calling the restructure "urgent."
The numbers: $95.5 million pre-tax loss for the year ended June 29, 2025. Up from $74.1 million the previous year. The retailer owes suppliers approximately $100 million.
What's closing
Affected stores include major shopping centre locations: Parramatta, Warringah Mall, Macquarie Centre, Highpoint, Marion, Carousel, Robina Town Centre, Sunshine Plaza. The sole New Zealand store in Newmarket, Auckland, is also on the list.
That's 19 stores across NSW (7), Victoria (3), Queensland (2), SA (2), WA (3), ACT (1), and NZ (1).
The supplier angle
Small business suppliers report being "crushed" by the administration. With $100 million owed and inventory pressure mounting, B2B sales teams selling into department stores face immediate exposure.
David Jones was acquired by private equity firm Anchorage Capital Partners for roughly $100 million in 2023. The business now carries $125 million in lease costs and $153 million in finance costs. That debt structure limited flexibility when losses mounted.
What it means for B2B
For suppliers: payment risk across the retail category just went up. If you have David Jones in your book, expect conversations about exposure limits.
For landlords and shopping centre groups: David Jones is a major anchor tenant. Half the network closing creates substantial retail space to re-let.
Competitor context: David Jones had 18 fewer locations than Myer while investing more heavily in stores over the final two years of Anchorage ownership. That strategy did not work.
Expressions of interest close this week. Charles Edward Lloyd Jones, fifth-generation family member, says any new owner needs to reduce footprint further and ensure distinctive offering. Otherwise, "same situation in another three to five years."