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ECONOMY • AUSTRALIA
David Jones plans to close half its stores in restructure
1 SOURCES AUSTRALIANEW
BLUF
Australian department store chain David Jones plans to close half its stores as part of a restructure, according to receivers FTI Consulting. The company has more than 6,000 employees and 38 stores, but the report gives no job-loss total.
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Why it matters
The closures could affect workers and shopping areas in Australia. The article does not identify a specific effect on U.S. businesses, markets or households.
What happens next
FTI Consulting, the receivers, announced the planned closures on Wednesday. The report does not give a closure schedule or details on which stores will shut.