AJ Sadauskas@mastodon.social to

Late Stage Capitalism · 1 day ago

A private equity firm fucked up running a 188-year-old department store chain, which had survived two world wars and the Great Depression.

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A private equity firm fucked up running a 188-year-old department store chain, which had survived two world wars and the Great Depression.

AJ Sadauskas@mastodon.social to

Late Stage Capitalism · 1 day ago

David Jones's receiver reveals list of 19 stores set to close

The retailer, which has 38 stores nationally, was placed in voluntary administration less than a week ago. Staff in the affected locations are being briefed.

A private equity firm fucked up running a 188-year-old department store chain, which had survived two world wars and the Great Depression.

So now low-paid retail workers are being told that they’ll lose their jobs just weeks before Christmas.

https://www.abc.net.au/news/2026-11-11/david-jones-to-close-stores/107372854

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Buy it with loans dump the loans into their books, sell off anything valuable, declare it bankrupt.

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