The country’s biggest shopping centre owners are counting the cost of David Jones’ collapse, with the prospective exit of the department store expected to boost earnings at some of the most sought-after malls.
David Jones has 38 stores across Australia and New Zealand with more than 6000 staff. Its owner, Anchorage Capital Partners, had hoped to reduce its network to as few as 12 stores, but that plan was complicated by its long-term lease agreements with major landlords that had years to run.
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