David Jones faces possible closure of five Westfield stores after missing filing deadline
The retailer missed an ASIC filing deadline for the second consecutive year and is considering shutting down five Westfield locations as it reviews its store portfolio.
David Jones has missed the October 30 deadline to file its accounts with the Australian Securities and Investments Commission for the second year in a row, prompting speculation about the future of several stores. PwC, the company’s auditor, has not yet signed off on the accounts, and the department store received $10 million in emergency funding from its senior lender to support trading through the Christmas period.
The retailer is reportedly evaluating the closure of at least five loss-making Westfield locations – Carousel in Perth, Parramatta and Hornsby in Sydney, Woden in Canberra, and Southland in Melbourne – after shutting two New South Wales stores in January. David Jones currently operates 38 stores across Australia and New Zealand and aims to reduce that number to between 12 and 20.
A spokesperson for David Jones said the company does not comment on media speculation and noted that CEO Erica Berchtold is focused on accelerating the INSPIRE30 strategy and is in advanced discussions with key stakeholders about adapting to the retail environment. The statement added that the review includes the store portfolio and trading terms with suppliers and brand partners.
Customers reported difficulties redeeming gift cards over a weekend, which the retailer attributed to a technical outage at the third-party platform GiveX. The service has been restored, with ongoing maintenance in some regions, and the company said day-to-day operations continue as normal.
Hilco Capital, the main lender, confirmed it provided additional funding above the agreed facility to allow David Jones to increase stock ahead of the busy Christmas trade and said it remains supportive of the business. The retailer, owned by Anchorage Capital Partners since 2023, has been under ASIC investigation since 2025 for delayed filings and reported losses of $95.5 million for 2025 and $74.1 million the previous year. In the first nine months of 2026, earnings before interest, tax and depreciation rose to $15 million and sales increased 3.6 percent.
Major fashion brands have reduced their presence in David Jones stores, with some luxury labels already scaling back their footprint.