RETAIL SECTOR: Market talk is rife Woolworths will offload problem child David Jones – but will it?

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

The rumours should be no surprise to the market. David Jones has been failing for a long time. By September 2020, the Woolworths Australian businesses’ combined debt had snowballed to about R4.3-billion.

The market has been abuzz this week with rumours that Woolworths Holdings is finally making moves to sell its Australian problem child, David Jones. Following a few articles in, media speculation is rife, although Woolworths has issued a media statement, saying it “remains firmly focused on the operational turnaround of David Jones”.

Woolworths also used the assets of David Jones’ sister company in Australia, Country Road Group, as a cross-guarantee for the debt held by David Jones. However, in the last few years, Bagattini has been steadily selling off David Jones’ real estate, cutting costs wherever possible. However, Vianello said it seems Bagattini has approached merchant banks to look at selling David Jones but he doesn’t have to announce that he is exploring possibilities.

Gilmour called it last year already in an investor note titled “Breaking up is hard to do”, where he stated that David Jones is likely to end up in insolvency.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Is Woolworths ditching embattled David Jones? 'No comment' amid market speculation | Fin24Apparel and food retailer Woolworths says it’s committed to turning around its embattled David Jones business, in the face of a report that it is considering getting rid of it altogether. | Fin24 Fin24 May God continue to bless you Mrs LindaStouffes I never beblieve it's going to work out because I have lost a lot in different places I know one day they will face the judgment. I really appreciate LindaStouffes Fin24 Only now ? Non profit department should be closed.
출처: News24 - 🏆 4. / 80 더 많은 것을 읽으십시오 »