David Jones’ distressed lender, Hilco Capital, has given the retailer $10 million in emergency capital to buy new stock for the pre-Christmas sales rush, buying it a little more time to cut a deal with landlords and secure its future.
The UK-based Hilco finally relented after discussions with David Jones had dragged on for weeks over its inventory position. The retailer was concerned it did not have enough stock for the busiest and most critical time of year.
Gift articles to anyone you choose each month when you subscribe.
