David Jones owes its suppliers about $100 million in unpaid invoices, on top of loans from financiers and its private equity backer, as the collapsed department store giant’s administrators scramble to close stores and reset the business as they work on plans to find the company a new owner.
Documents prepared by David Jones and Anchorage Capital Partners, which acquired the business in 2023, show the private equity firm is owed $80 million and lender Hilco Global is owed $140 million. In a sign of how distressed the retailer was, the document circulated among the company’s landlords also showed it owed trade creditors $100 million.
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