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.
South Korea ferry passengers who were told to stay put 'got trapped' aboard sinking ship
Are beards attractive? Ryan Gosling says yes, but science says no. Take the A-list facial hair challenge and find out who's right
Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
Oscar Pistorius trial: Defence witness 'unqualified' to testify
Oscar Pistorius trial: Defence witness contradicts athlete's version in new blow for defence team
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Poveglia: 'World's most haunted island' up for sale...is anyone brave enough to buy it?
- 2 Babies cry at night to stop mothers procreating, scientists claim
- 3 24 people applied for the 'world's toughest job', here are their interviews
- 4 Andre Johnson: Wu-Tang Clan-discovered rapper severed his penis and jumped from LA building
- 5 Mrs Doubtfire 2: Robin Williams set to star in sequel to 1993 comedy
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...