David Jones faces fresh scrutiny as lender backs retailer
David Jones is back in focus after reports the department store chain missed a deadline to file its 2026 accounts with ASIC and could close as many as 26 stores.
The 188-year-old retailer has been dealing with declining sales, heavy debt and supplier-payment pressure.
British financial firm Hilco Capital, which provided David Jones with a A$230 million loan, said it remained supportive of the business and had provided funding above the agreed facility to help lift inventory ahead of the Christmas period.
The situation adds to pressure on Australia’s discretionary retail sector as high interest rates and weak consumer confidence continue to weigh on household spending.
