David Jones Suppliers Face Payment Delays, Trade Credit Insurance Hurdles
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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David Jones Suppliers Face Payment Delays, Insurance Hurdles: Brands Seek Alternatives
Suppliers to Australias David Jones department store are grappling with delayed payments and a lack of trade credit insurance, leading to anxiety and potential partnership reevaluations. Major insurers refuse coverage for goods sold through the store, leaving vendors vulnerable if bills go unpaid. Brands like Luxe Skincare, La Mer, and Gilan Beauty have ended exclusivity deals and moved to rival Myer, while Mac is pulling out entirely. David Jones private equity owners, Anchorage Capital, took the store private in 2022, reducing financial transparency. The store posted a $74 million loss in 2024 and proposed deferring payments until 2026. As consumer confidence wanes amid inflation and online shopping growth, these supplier woes underscore deeper challenges for traditional department stores.
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