David Jones’s administrators have revealed they reviewed its finances six months ago and discussed restructuring the retailer three months before it fell into administration.
The new timeline raises questions over the department store group’s decision to keep buying new products and fall months behind in payments to some brands before it revealed last Thursday it could not pay its debts.
The process could leave unsecured creditors with substantial losses, with unpaid product suppliers and shoppers holding unredeemed gift vouchers most at risk.
The McGrathNicol administrators invited David Jones’s creditors, which also include employees and landlords, to attend a 17 November meeting in its first circular on Tuesday.
McGrathNicol’s…