David Jones expected to fall into administration after failed 11th hour talks with biggest landlord
Summary
David Jones is expected to enter administration after talks between its owner, Anchorage Capital Partners, and landlord Scentre Group ended without an agreement. The retailer has not paid rent since September and has been considering store closures and changes to trading terms amid losses and weak consumer spending.Key Facts
- Scentre Group said its discussions with Anchorage Capital Partners had ended without an agreement.
- Scentre chief executive Elliott Rusanow said David Jones had not paid rent since September and was in breach of its lease.
- Two people familiar with the discussions said administrators were expected to be appointed.
- David Jones has 38 stores and had sought to reduce its network, including by closing underperforming suburban sites.
- The retailer’s chief executive, Erica Berchtold, had been in advanced discussions with stakeholders about stores and trading terms with suppliers and brand partners.
- The article attributes pressure on department stores to weak consumer spending, inflation and competition from discount retailers and luxury brands.
- Shares in Myer Holdings, which operates the rival Myer chain, were down more than 50% in 2026, according to the article.
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