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

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.

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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.
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