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David Jones reportedly set to close half its stores
Receivers of David Jones are set to announce the closure of more than a dozen stores this afternoon after they brief suppliers and staff.
- Receivers of David Jones are set to announce the closure of more than a dozen stores this afternoon.
- Initial reports suggest as many as 19 of David Jonesā 38 stores could close before Christmas.
- It is unclear which stores, and which employees will be affected.
Iconic retailer David Jones is set to close as many as half its stores as receivers attempt to revive the department store.
Suppliers and staff are being briefed on the changes now, with a formal announcement to come from receivers FTI Consulting this afternoon, The Australian Financial Review reports.
David Jones currently operates 38 stores across Australia and New Zealand, 17 of which are inside a Westfield shopping centre.
As many as 19 stores could be axed as part of the restructure, per The Australian Financial Review.
The retailer employs around 6,000 staff. It is unclear at this stage which stores, and which jobs, will be affected by the changes.
David Jones collapsed into administration last week, appointing administrators after it was revealed it had not paid rent to Westfield operator Scentre Group since the end of September.
The Money EditionĀ has contacted receivers FTI Consulting for comment.
More to come ā¦
Topics: David Jones, Retail, Shopping