Overview
- Anchorage Capital Partners replaced Scott Fyfe with Erica Berchtold as chief executive, with the parties saying the change was a planned leadership transition reached by mutual agreement.
- David Jones has been loss-making, reporting about $95 million in losses last year, leaving the business dependent on outside restructuring finance to continue trading.
- The company announced a new three-year loan from turnaround lender Hilco, which provides cash and specialist restructuring support to underperforming retailers.
- Berchtold, who joined last year as chief commercial officer and previously led The Iconic, says she will refresh merchandise, supply chains and the online-offline mix to modernise the business.
- The move signals tighter owner control of governance and raises pressure on supplier relationships and store staff, with success likely to hinge on restoring supplier trust and improving cash flow.