Talk of storied department store retailer David Jones being “on the brink” is continuing apace, following months of delayed supplier payments, brand exits and an emergency lending facility with Hilco Global.

However, both financier Hilco Global and the retailer’s owner, Anchorage Capital Partners, are looking to keep David Jones afloat in the wake of this speculation. Inside Retail can report that Anchorage is continuing to fund its ‘Inspire 30’ reset strategy.

“As the owner of David Jones, Anchorage Capital Partners continues to support the company through a prolonged period of weak consumer confidence and significant structural change across the department store sector and has committed substantial capital and supporting investment in the business’ transformation,” the Sydney-based private equity firm said.

At the same time, The Australian Financial Review (AFR) reports that Hilco Global has injected a further $10 million into David Jones to help it buy emergency stock before Christmas.

Hilco Global’s subsidiary, Hilco Capital, recently placed Cue Clothing Co into receivership. In 2024, the distressed business investor stepped in as a secured lender to Mosaic Brands, prior to its collapse.

The AFR reports that CEO Erica Berchtold is reviewing plans to cut David Jones’ 38-store network by more than half. It added that the emergency $10 million fund came after David Jones missed payments to some of its key concession holders.

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