There are more signals retail icon David Jones is on life support as it undergoes a painful restructure amid brutal trading conditions.
Major fashion brands have already pulled away from the department store giant, slashing the amount of floor space they operate.
Major brands are reducing their footprint across David Jones stores. iStock
Now the beleaguered company’s main lender, UK special situations investor Hilco Global, may decide to pull the plug and wind up the company, the Australian Financial Review reports.
Hilco has the green light to proceed because David Jones broke a loan covenant, according to two people briefed on the issue who asked to remain anonymous because they were not authorised to comment.
Hilco decided against…