David Jones administrators set first creditors meeting for 17 November, seek delay to April
McGrathNicol, administrator of Melbourne-based David Jones Pty Limited and its group, has called the first creditors' meeting for 17 November and will ask the court to push the vote on the retailer's future back to early April 2027. The chain employs about 6,000 people and has been in voluntary administration and receivership since 5 November.
The dates come from McGrathNicol's first circular to creditors, sent on Tuesday 10 November. Staff and landlords are creditors too, alongside suppliers, and all can attend the 17 November meeting. ASIC's guide says the second meeting, where creditors choose between a deed of company arrangement, liquidation or handing the company back to its directors, normally falls about five weeks after an appointment, though a court can allow longer. McGrathNicol told creditors it would ask for an extra three months, to early April 2027, so it can find a buyer or fresh capital, the Guardian reported.
The circular also sets out earlier contact between the administrators and the group. McGrathNicol said lawyers for the owner, Anchorage Capital, hired it in April 2026 to analyse some financial information, though it did not advise David Jones or test whether it could pay its debts. In July it met group director Simon Woodhouse and lender Hilco about trading and a possible restructuring. The administrators said Mr Woodhouse walked out when restructuring was raised, and a planned working group never met. Talks resumed on 22 October, when he asked for help preparing for a possible administration. Over the same months, several small suppliers told the Guardian they had been moved onto tiered, longer payment terms.
David Jones Group paid McGrathNicol A$1 million upfront on 4 November, the day before the appointment, and the administrators expect to draw a further A$3 million to A$4 million, according to the circular. It gives no figures on the group's finances or on when it became insolvent. The directors have been asked to report on the company's affairs.
FTI Consulting, the receivers appointed by Hilco, are still running the stores. In a letter to staff dated 6 November, the receivers said pay for continuing work would keep flowing and they expected enough money to meet entitlements in full, AAP reported. The Guardian named unpaid suppliers and holders of unused gift vouchers as the creditors most exposed to losses.
Earlier: David Jones administrators seek a buyer, with expressions of interest due Friday
Why it matters: If the court agrees, suppliers, staff and gift card holders will wait until about April 2027 for the vote that decides David Jones's future. The first meeting on 17 November is where creditors can replace the administrators or form a committee.
If this affects you
- Jason Preston, Shaun Fraser, Jacinta Nielsen and Matthew Hutton of McGrathNicol were appointed voluntary administrators of the David Jones Group on 5 November 2026; the firm's creditor page lists its contact details. mcgrathnicol.com
- ASIC's guide for creditors says the meeting that decides a company's future must be held within 25 business days of the appointment unless the court allows an extension of time. asic.gov.au
- The Australian Government's Fair Entitlements Guarantee is a safety net for employees who lose their jobs because their employer goes into liquidation or bankruptcy. dewr.gov.au
Sources
- David Jones a lesson for retailers as staff reassuredAustralian Associated Press (Dungog Chronicle), Nov 10
- David Jones’s finances were reviewed and restructuring flagged months before it fell into administrationThe Guardian, Nov 10