David Jones department store faces collapse as rent unpaid

Summarised from 2 outlets · 3 reports · Updated 4 Nov, 02:57 · Archive

The 188-year-old Australian department store has not paid rent since September and is reportedly preparing to appoint administrators.

David Jones, the 188-year-old Australian department store, has not paid rent since September, prompting its biggest landlord Scentre Group to reveal the retailer's precarious position. Scentre chief executive Elliott Rusanow said the company had made a generous offer to David Jones's owner Anchorage Capital Partners to facilitate continued trading, but the offer was rejected.

Scentre Group disclosed it received $45 million in gross rent from David Jones in 2026, representing about 1.8 per cent of the group's total. David Jones paid significantly below the Scentre portfolio average, at $352 per square metre compared with an average of $942 per square metre. The group holds $30 million in bank guarantees from the retailer, equivalent to eight months of rent.

David Jones operates 38 stores across Australia and New Zealand, with 17 located in Westfield shopping centres. The Australian Financial Review reported the company's directors were expected to appoint insolvency firm McGrathNicol as voluntary administrators after landlord negotiations collapsed. The retailer posted a $95.5 million loss in 2024/2025. As of Tuesday, a company spokesperson said all 38 stores remained operational.

How it is being reported

• David Jones on the brink of collapse as Westfield owner Scentre reveals the retail giant has not paid rent for a monthThe retailer’s biggest landlord Scentre Group revealed the 188-year-old department store has not paid rent since September.Perth Now · 4 Nov, 02:23
• Westfield owner Scentre Group details its exposure to struggling David JonesWestfield owner Scentre Group has revealed David Jones pays well below the portfolio average in rent amid widespread reports the historic retailer is preparing to axe more than half its stores.The West Australian · 3 Nov, 23:45
• Westfield owner Scentre Group details its exposure to struggling David JonesWestfield owner Scentre Group has revealed David Jones pays well below the portfolio average in rent amid widespread reports the historic retailer is preparing to axe more than half its stores.The West Australian · 3 Nov, 23:40

In this story: David Jones · Scentre Group · Anchorage Capital Partners · Westfield · Vicinity Centres · Charter Hall · McGrathNicol · Australia

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log