The owners of David Jones’ iconic Bourke Street store have been left high and dry with no bank guarantee to cover the $223.5 million store.
IP Generation, a real estate investment manager owned by ASX-listed private credit giant MA Financial, is the latest party caught in the spectacular collapse of 188-year-old retail institution David Jones .
IP Generation manages about $2 billion in shopping centre assets, including David Jones’ flagship store in Melbourne’ Bourke Street mall which it purchased for $223.5 million, in January 2025.
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David Jones has survived two world wars, the invention of the car and the discounting boom. As luxury perfumes wafted through the stores that inspired its houndstooth trademark, did it lose the service that made it like no other store.
Lift operators, bra fitters and lying sales assistants – I mourn you all.
The Swansea-born star got her big break in The Mask of Zorro which cemented her place as an A-lister.
Property giants that operate some of Sydney’s biggest shopping centres are scrambling to decide how they will fill the spaces vacated by the collapsed retailer.
See the full list of store closures.
