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AUSTRALIA'S DAVID JONES READY TO EXIT FOODCHAIN BUSINESS.
SYDNEY, June 2 Asia Pulse - Upmarket retailer David Jones Ltd (ASX:DJS) is reportedly ready to axe its troubled Foodchain outlets as part of a major strategic review.
The move will mean another massive writedown for the group, which has already suffered A$40 million (US$26.02 million) worth of writedowns and operational losses from its Foodchain foray, according to The Australian Financial Review.
The group is also believed to be ready to restructure its online retailing service and close two department stores, according to the newspaper.
It stands to save at least A$30 million (US$19.52 million) a year by ...
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Source: HighBeam Research, AUSTRALIA'S DAVID JONES READY TO EXIT FOODCHAIN BUSINESS.