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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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.
After 188 years, David Jones announced it would close 19 stores, most of them in Sydney's outer suburbs.
See the full list of store closures.
Talks about the department stores financial troubles and restructuring scenarios started months ago, a report to creditors says.
