Spotlight on: David Jones
Tuesday 03 July 2012
Wasn't he from that popular beat combo The Monkees?
No, that was Davy Jones, and he unfortunately died in February.
So who is David Jones?
A Welsh émigré who sailed to Australia to set up a department store in Sydney in 1838.
Why are we talking about him now, 174 years later?
David Jones is a 37-strong listed department stores chain in Australia, selling everything from pots and pans to fashion goods.
Sounds lovely, but why do we care here in Britain?
The chain sprang to our attention when it emerged last week it had received a mysterious £1.1bn bid from a Newcastle-based private equity firm.
There can't be many of them.
Quite. EB Private Equity doesn't have a phone number and isn't listed at Companies House.
EB Private Equity? Never heard of it.
Neither had anyone else. Its website domain name registration is said to be an address in Newcastle between a noodle bar and a wig shop, sparking analysts to claim the bid was a hoax. But chairman John Edgar told Australian newspapers that EB has $200m (£127m) of funds under management.
What's happened to the bid?
Good question. EB suddenly pulled out yesterday, claiming "recent publicity … made it difficult to proceed".
What's next for the chain?
Its chairman, Bob Savage, is facing questions about why such a tentative bid was made public. Shares in the retailer shot up 15 per cent on Friday but fell back yesterday. And trading at the stores is still dire.
Why would a property investor be interested in a retailer?
David Jones' shares had halved over the past year but it has a property portfolio worth up to A$700m (£458m) – mainly the freeholds of its stores.
So this could be one for the record books?
David Jones, the oldest department store in the world still trading under its original name, is perhaps now the only one to have had a £1.1bn bid come and go so mysteriously.
- 1 VMAs 2015: Was Nicki Minaj and Miley Cyrus' awkward acceptance put-down real or staged?
- 2 If you're not already angry about the migrant crisis, here's a history lesson to remind you why you really should be
- 3 Rules on 5p plastic bags likely to lead to arguments at the check-out
- 4 Chaos breaks out in courtroom as father attacks killer of three-year-old daughter
- 5 I like Corbyn, but let's face it: we don't need another white man at the head of a political party
VMAs 2015: Was Nicki Minaj and Miley Cyrus' awkward acceptance put-down real or staged?
Bank Holiday Monday opening times: Are Tesco, Asda and other supermarkets open today?
Rules on 5p plastic bags likely to lead to arguments at the check-out
The nine most warmongering countries in the world revealed
Isis releases graphic video showing four Shia 'spies' being burned alive in Anbar, Iraq
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Black holes are a passage to another universe, says Stephen Hawking
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...