David Jones is open, the tills are busy and the receivers want everyone to know it. FTI Consulting says stores in Australia and New Zealand remain fully operational, with foot traffic and sales at record levels since its appointment. Read that in the right light. A receiver appointed by an inventory-backed lender, heading into Black Friday and Christmas, has every reason to move stock quickly. Strong trading is the plan. It is not proof the business has a future.
One store carries all the New Zealand risk
New Zealand’s exposure is narrow but concentrated. David Jones has a single store here, in Newmarket, opened in 2019. That means one landlord relationship, one set of local suppliers and concession staff, and…