It is all hands on deck at David Jones, the 188-year-old department store giant that is staring into the abyss of a potential insolvency amid the most challenging retail trading environment in at least half a century.
Private equity owner Anchorage Capital Partners is in advanced discussions with David Jones’ landlords, which are estimated to be sitting on 350,000 to 400,000 square metres of retail space, around accelerating plans to right-size the 38-store network by more than half, according to three people briefed on the matter, who were unable to speak publicly.
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