David Jones to shut dozens of loss-making stores across Australia – as expert warns it has been in trouble for ‘some time’
Dozens of David Jones stores across Australia could close down, including five locations in Westfield shopping centres, as the retailer reviews its national footprint.
It is understood the department store giant, which operates 38 stores across Australia and New Zealand, is seeking to reduce its numbers to between 12 and 20.
The auditor, PwC, had yet to sign off on accounts, which were required to be lodged with the Australian Securities and Investments Commission (ASIC) by October 30, according to The Australian Financial Review.
The embattled retailer also filed its 2025 financial accounts six months late.
The corporate regulator is cracking down on late lodgments and has already issued fines to high-profile retailers White Fox, Zara, H&M, Sephora and Mecca.
David Jones is also reportedly reviewing five stores said to be operating at a loss at Westfield shopping centres ahead of the Christmas trading period.
Locations under the microscope include Carousel in Perth, Parramatta and Hornsby in Sydney, Woden in Canberra and Southland in Melbourne.
The AFR also reported that the retailer required rent assistance, which including paying zero rent during December, usually one of its busiest months.
Dozens of David Jones stores across Australia are reportedly on the chopping block
David Jones failed to lodge accounts with the Australian Securities and Investments Commission by the October 30 deadline. Pictured, David Jones shoppers at Marion
The Daily Mail has contacted David Jones for comment.
The retailer last week confirmed that a review of its Australian store portfolio and trading terms with suppliers and brand partners was underway.
A spokesperson declined to comment on ‘speculation in the media’ but said chief executive Erica Berchtold’s priority was to accelerate the company’s strategy.
The developments have prompted concern from Marketing Focus managing director Barry Urquhart.
‘The inevitability is we will not be seeing David Jones around in the very near future,’ Mr Urquhart told the Daily Mail last week.
He argued that the decline in the giant’s reported sale value reflected the extent of its problems, adding that the retailer had ‘been in trouble for some time’.
Mr Urquhart also identified the Covid pandemic as a major turning point, with widespread closures placing significant pressure on retailers.
‘With the onset of the Covid-19 pandemic in February 2020, a lot of communities, towns, businesses closed down and therefore that had a huge impact on cash flows, debt levels,’ he said.
Marketing Focus managing director Barry Urquhart (pictured) told the Daily Mail that Aussies will not be seeing David Jones around in the very near future
Founded in 1838, the Aussie retailer is recognised as the oldest continuously operating department store in the world still trading under its original name.
South Africa’s Woolworths Holdings bought David Jones for about $2.1billion in 2014 before completing the reported $100million sale of its operating business to Anchorage Capital Partners in 2023.
Anchorage Capital Partners has been working to turn the business around, securing Hilco as a lender in July and appointing Ms Berchtold as chief executive.
David Jones’ financial position has come under renewed scrutiny after the retailer recorded a $95.5million pre-tax loss for the year to June 29, 2026, as sales fell by 8.7 per cent.
In January, David Jones closed its stores at Castle Towers in Sydney and Tuggerah on the NSW Central Coast.
