David Jones’ demise is bigger than its owners

Detailed summary

It is increasingly clear that Anchorage underestimated how deep the structural challenges ran, and how quickly Australians would change their shopping habits.

Many Australians feel a pang of sadness at David Jones’ fall from glory, even if that affection owes far more to nostalgia than to their modern shopping habits.

The 188-year-old business will close half of its stores by the end of the year, in a significant restructure that receivers hope can help the retailer trade its way out of collapse.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.