Anchorage Eyes Closure of More Than Half of David Jones

Anchorage Capital Partners is in advanced talks about closing more than half of David Jones department stores in Australia.

Updated on Nov. 4, 2026 in Retail

Anchorage Eyes Closure of More Than Half of David Jones

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Anchorage Capital Partners is in advanced talks about closing more than half of David Jones stores, according to the report. David Jones has 38 stores still open after closing its Castle Hill and Tuggerah stores in January 2026.

Why it matters

The potential closures would sharply reduce the footprint of one of Australia's best-known department store chains. The discussions follow a $95.5 million loss posted by David Jones in the 2024-25 financial year.

David Jones posted a $95.5 million loss in the 2024-25 financial year and currently operates 38 stores. Talks would affect more than half of that network, and the final list of closures has not been confirmed.

The players

Anchorage Capital Partners

Anchorage Capital Partners is a US-based alternative investment firm that has been involved in restructuring and investment activity in the retail sector.

David Jones

David Jones is one of Australia's longest-running department store chains, with a history dating back to the 19th century.

The details

Advanced talks are underway between Anchorage Capital Partners and David Jones about closing more than half of its stores. The chain has already shut its Castle Hill and Tuggerah locations in January 2026, and the Wollongong store, which opened in 1966 and moved within the CBD in 2017, is not affected by any announced change according to a Wollongong Central spokesperson.

1966: David Jones opened its Wollongong store at the David Jones Building.
2017: David Jones moved to a new location within the Wollongong CBD.
January 2026: David Jones closed its Castle Hill and Tuggerah stores.
4 November 2026: Report published on advanced talks about store closures.

Market Landscape

Australia's retail sector employs about 1.4 million people, and the proposed closures would reshape a department store format that has faced sustained pressure from online competition. The talks place David Jones within a wider contraction of large store-based retail.

If the closures proceed, shoppers in affected areas would lose access to David Jones stores and may need to travel further for department store purchases. Customers of the remaining 38 stores may see changes in range and service as the network is reduced.

The takeaway

Store closures of this scale can reshape both local shopping options and the wider retail landscape, so shoppers may want to watch for confirmed announcements before changing their habits. Clear official confirmation will separate firm decisions from speculation.