Kirk's board brokered its own deal for sale to David Jones

Fri, 31 Jul 2015

By Suze Metherell July 31 (BusinessDesk) - Kirkcaldie & Stains' sought out an offer from Australian department store chain David Jones to buy the ailing 152 year old Wellington department store, after suffering seven consecutive years of unprofitability, chairman Falcon Clouston has told BusinessDesk. Clouston traveled to Australia to approach David Jones, owned by Woolworths Holdings of South Africa, about buying the company after general discussions with retailer Country Road, which is also owned by Woolworths. The Wellington CBD Countr...

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