# David Jones administrators reviewed finances months before collapse and discussed restructuring

- URL: https://talkfuse.com/story/david-joness-finances-were-reviewed-and-restructuring-flagged-months-before-it-fell-into-administration/
- Published: 2026-11-10T10:04:46+00:00
- Updated: 2026-11-10T10:20:43+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/nov/10/david-joness-finances-were-reviewed-and-restructuring-flagged-months-before-it-fell-into-administration
- Topics: Software, Technology, World

## Key points

- Administrators reviewed David Jones finances in April.
- Restructuring was discussed with its lender in July.
- Creditors meet on 17 November as administrators seek more time.

## Summary

David Jones’s administrators say they examined some of the retailer’s financial information in April 2026 and discussed possible restructuring with its group director and largest lender in July. The timeline raises questions about why the department store continued buying products and fell months behind on payments before entering administration last Thursday, leaving suppliers and gift-voucher holders facing possible losses.

Administrator McGrathNicol said it did not advise David Jones directly or assess its ability to pay debts, and that it was not asked to help plan voluntary administration until 22 October. It received $1m from the group on the day before the collapse and expects access to a further $3m to $4m. Creditors will meet on 17 November; McGrathNicol plans to seek a delay to the usual follow-up meeting until early April 2027 while it works to sell the business or raise funds.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.