Questions Grow Over David Jones: Learn supplier, lender and decline to comment

News date: November 3, 2026 (ABC News) | English level: B1–B2 | Topic: Australian business news, workplace English

If you have been to Sydney or Melbourne, you have probably walked through David Jones (Australians often call it DJs). The department store, which started as a corner shop in 1838, is now in the spotlight over its finances: it missed a financial reporting deadline, suppliers have been given longer payment terms, and a brand has reportedly pulled stock, all right before the Christmas shopping season.

This story is great for learning business English: supplier, lender and decline to comment are words you will see in work emails and meetings. Many of the claims are still unconfirmed, and news writers use words like reportedly and the ABC understands to show this. This lesson shows you how to read them.

Read the passage once and try to find three key points: What deadline did David Jones miss? Who provided extra funding? Which claims have not been confirmed?

English Level：Intermediate（B1–B2）｜Topic：Business, Retail

Questions Grow Over the Future of David Jones

David Jones, one of Australia's best-known department stores, is facing growing questions about its finances just weeks before Christmas. The business began as a corner shop in 1838 and now has 38 stores across Australia. It is owned by the private equity firm Anchorage Capital Partners.

According to ABC News, David Jones missed the deadline to file its latest financial report with the corporate regulator, ASIC. There have also been media reports that several of its stores in Westfield shopping centres could close, but these reports have not been confirmed. Suppliers have reportedly been given longer payment terms this year, and at least one major fashion brand is said to have pulled some of its stock.

The company's key lender, Hilco Capital, has said it remains supportive of the business. The ABC understands that Hilco has provided around $10 million in extra funding, which was reportedly used to buy stock before the busy Christmas season. An Anchorage spokesperson declined to comment on the speculation, but said David Jones was reviewing its store network.

The retail workers' union, the SDA, described the reports as "alarming" and said it was contacting staff about their rights. None of the store closure reports has been confirmed by the company.

The passage above is an original learning text written from information reported by ABC News and Inside Retail. It is not the media outlets' original wording.

David Jones is a very famous department store in Australia. A few weeks before Christmas, more and more people are asking questions about its money. The business started as a small corner shop in 1838. Today it has 38 stores in Australia. A private equity company called Anchorage Capital Partners owns it.

ABC News says David Jones did not send its latest financial report to ASIC, the government body that watches companies, on time. Some media also say a few of its stores in Westfield shopping centres might close, but nobody has confirmed this. Reports say suppliers have been given more time to get paid this year, and people say at least one big fashion brand has taken some of its products out of the stores.

Hilco Capital, the main company that lends money to David Jones, says it still supports the business. The ABC has learned that Hilco gave about $10 million in extra money. Reports say this money was used to buy products before the busy Christmas season. Someone speaking for Anchorage did not want to talk about the rumours, but said David Jones was looking again at its stores.

The SDA, a union for shop workers, called the reports "alarming". It said it was talking to staff about their rights. The company has not confirmed any of the reports about stores closing.

1. department store (noun) a large shop with many sections selling different kinds of goods

In the news: one of Australia's best-known department stores

Example: We bought our Lunar New Year gifts at a department store in Xinyi.
Here it means a big shop with clothes, gifts and more under one roof.

2. finances (plural noun) the money a person or company has and how it is managed

In the news: growing questions about its finances

Example: Before going on a working holiday, check your finances carefully.
Usually plural when it means someone's overall money situation.

3. deadline (noun) the latest time or date by which something must be done

In the news: missed the deadline to file its latest financial report

Example: The deadline for the IELTS registration is next Monday.
Common verbs: meet a deadline (do it on time) / miss a deadline (be late).

4. regulator (noun) an official body that controls an industry and makes sure rules are followed

In the news: the corporate regulator, ASIC

Example: The financial regulator warned people about investment scams.
Often used with an industry word: financial regulator, energy regulator.

5. supplier (noun) a company or person that provides goods or materials to a business

In the news: Suppliers have reportedly been given longer payment terms this year.

Example: Our supplier said the order will arrive two days late.
The supplier is the business that sends you the products you order.

6. reportedly (adverb) according to reports; not yet officially confirmed

In the news: which was reportedly used to buy stock

Example: The singer will reportedly hold a concert in Taipei next year.
The news is not confirmed yet; it is what people are saying.

7. lender (noun) a bank or company that lends money

In the news: The company's key lender, Hilco Capital

Example: The lender asked for more documents before approving the loan.
The opposite side is the borrower, the person or company that receives the loan.

8. funding (noun) money given or lent for a particular purpose

In the news: around $10 million in extra funding

Example: Our startup received funding from a local investor.
Uncountable: say "some funding" or "extra funding", not "a funding".

9. stock (noun) the goods a shop has available to sell (common in British and Australian English; American English often says inventory)

In the news: to buy stock before the busy Christmas season

Example: Sorry, this jacket is out of stock in size M.
Out of stock means the shop has none left to sell right now.

10. decline to comment (phrase) to politely refuse to give an opinion or answer

In the news: declined to comment on the speculation

Example: The HR manager declined to comment on the new bonus policy.
A polite, neutral way to say someone would not talk about a topic.

11. review (verb) to look at something again carefully, often in order to change it

In the news: David Jones was reviewing its store network

Example: Let's review the budget again before we book the flights.
Here it means checking the budget once more before spending money.

12. alarming (adjective) causing worry or fear

In the news: described the reports as "alarming"

Example: The number of scam messages this year is alarming.
Stronger than worrying; it suggests a serious problem.

Pattern 1: S + be said to + V / S + have reportedly + p.p. (it is said that / according to reports)

From the passage: At least one major fashion brand is said to have pulled some of its stock. / Hilco's funding was reportedly used to buy stock.

Note: Be said to and reportedly both mean "people say" or "according to reports", so the information is not fully confirmed. They are very useful at work when you pass on something you heard but do not want to sound too certain.

Try it: The new manager is said to be very strict.
People say this, but you have not checked it yourself.

Pattern 2: S + declined to comment on + N, but said + clause

From the passage: An Anchorage spokesperson declined to comment on the speculation, but said David Jones was reviewing its store network.

Note: Use this to say someone did not answer about A but did say B. It is very common in news. The clause after but said usually moves one tense back (is → was).

Try it: The client declined to comment on the price, but said they liked our design.
The client gave no answer about the price, but gave positive feedback on the design.

Pattern 3: describe + A + as + adjective / noun (to say what A is like)

From the passage: The SDA described the reports as "alarming".

Note: Use this to report someone else's opinion. It sounds more formal than say and is common in business presentations and the news.

Try it: My teacher described my presentation as clear and confident.
A polite way to share feedback you received: describe + what + as + adjectives.

Situation: Lisa, who is on a working holiday in Australia, chats with her flatmate Tom, who works at a brand counter in a department store.

English Conversation

• Lisa: Is it true that David Jones might close some stores?
• Tom: Nobody knows yet. The company declined to comment on the rumours.
• Lisa: I read that some suppliers have to wait longer to get paid.
• Tom: Yes, and one fashion brand has reportedly pulled some products.
• Lisa: That sounds alarming. Are you worried about your job?
• Tom: A little. But our manager said we have enough stock for Christmas.
• Lisa: That's good. Maybe it's a good time to update your résumé, just in case.
• Tom: Good idea. Can you help me check my English?

Key takeaways

• declined to comment on the rumours: Tom uses decline to comment to say the company would not talk about what people are saying.
• suppliers have to wait longer to get paid: an everyday way to explain the news phrase "longer payment terms" for suppliers.
• has reportedly pulled some products: reportedly goes between has and the past participle to show the news is not confirmed.
• That sounds alarming / enough stock for Christmas: alarming reacts to worrying news, and stock means the goods the store has to sell.

Try not to look back at the article. Choose an answer and press check to see the explanation.

The hardest part of reading business news is often telling facts from rumours. Ambitious Learner's one-to-one online English lessons help you practise reading and speaking with real news, and you can also focus on business English, such as emails, meetings, interviews or job-hunting English for a working holiday in Australia.

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• ABC News: David Jones facing 'alarming' financial speculation just before Christmas | Nov 3, 2026
• Inside Retail: Is David Jones really on the brink? What we know so far | Oct 27, 2026
• Inside Retail: Anchorage, Hilco vow financial lifeline, support to David Jones | Oct 28, 2026

Facts checked: November 5, 2026. Store closures, the funding amount and the brand pulling stock are based on media reports or sources and have not been officially confirmed by the company. The English reading passage, example sentences, dialogue and quiz are original teaching content created by Ambitious Learner and are not the media outlets' original wording.