00:01So the receivers of David Jones, that is FTI, they have now confirmed what was reported
00:07previously that a substantial amount of David Jones' department stores will be closed following
00:14the retailers' voluntary administration last week.
00:18Now, I have a list of the 19 stores that they have earmarked for closure.
00:23It includes several sites around New South Wales, including prominently sites at Parramatta,
00:31Wollongong in the regional city of Wollongong, Hornsby Hills, Macquarie Centre.
00:37We also have sites in Queensland, Robina, so that's the Gold Coast and Sunshine Plaza.
00:44The ACT has a slated store closure along with Victoria.
00:49Now, Victoria is interesting. We have two suburban sites, Malvern Central and Glen Waverley,
00:56as well as a site that's in a major shopping centre at High Point.
01:01Now, that is 19 store closures earmarked by the receivers.
01:06Interesting to note from them and also from correspondence that I've seen sent to suppliers
01:10that they are saying that these stores will be kept open through the busy Christmas season.
01:17It says here to suppliers that they are expecting the affected stores to continue trading through
01:25the peak seasonal period with closure dates anticipated to occur later in the year.
01:31They said they're going to confirm the closure date for each store as soon as it has been determined.
01:36It is also noted in some correspondence that I have here that Hilco,
01:40that is the major secured lender that is, who is represented by this receiver.
01:47It notes here that staff retail team members from Hilco are going to be working across the entire store network.
01:55They say that Hilco's role is going to be supporting store leaders during this time
02:00and they note that they know that this news is very difficult and they do not take it lightly.
02:05There's no clear date on these 19 store closures, but it does look like they'll be kept open through the
02:11busy Christmas period.
02:12Obviously, the receivers are wanting to sell as much stock in these specific stores as possible to recoup back some
02:19cash.
02:20We know that David Jones has around 6,000 retail workers.
02:26Now, that is not just staff directly employed by David Jones.
02:30It is also staff that work within concession stores that operate within these department stores.
02:36So, they're actually staff that are employed by other retail companies that still work within the shops.
02:43Now, we have no firm figures here on how many of these 6,000 staff are now likely to lose
02:50their jobs.
02:51With 19 stores representing around half of David Jones' retail network,
02:57you would expect the job losses to be very significant in the thousands of numbers.
03:03ziel,鉄, fer, and disip Thanks for seeing in this new app that entered theстаточно shop.
03:03I think in this video there will be a ransomware.
03:03I was trying to get to keep it away from the top of David Jones' retail industry.
03:04Now we areiciing the einen alert to the
03:05I took a limit and put them on the top of Marilyn's정을.
