Suppliers to David Jones have stripped stock from stores across Australia after the 188-year-old department store was placed into voluntary administration, as owner Anchorage Capital Partners weighs a bid to take back a slimmed-down business free of its current debts and liabilities.
ChannelNews has been told that distributors and brand suppliers of small appliances, consumer electronics, homewares, clothing and luggage were given access to stores by staff and removed their goods rather than wait for administrators to take control of the stock.
Many suppliers have been unable to obtain insurance on stock already sitting in David Jones stores, leaving them fully exposed if their goods are swept into the…