David Jones needs another rescue ahead of Christmas
Once a symbol of Australian civic pride, the 188-year-old department store is scrambling to renegotiate deals with landlords while Hilco has the right to call in receivers.
David Jones is fighting for its survival as it scrambles to renegotiate deals with multiple landlords, while British investor and distressed business lender Hilco has the right to call in receivers. The 188-year-old retailer, the world’s oldest surviving department store still trading under its original name, is at the closest it has ever come to financial, if not existential, ruin.