David Jones administration and Anchorage Capital lobbying by Joe Hockey’s Bondi Partners, Digi Mart USA News (Australia): There is no bigger retail business story in Australia right now than the collapse of the storied department store David Jones, which went into administration last week after three years under the control of private equity firm Anchorage Capital Partners.
Fresh paperwork filed with the NSW and Attorney-General’s lobbying registers suggests Anchorage remains heavily invested in managing the political fallout from the implosion of one of the country’s most recognizable brands. Former federal treasurer Joe Hockey’s lobbying firm, Bondi Partners, has been retained by Anchorage both in Canberra and on Macquarie Street.
According to the report, Anchorage enlisted Hockey and his team to help manage any political fallout from the demise of David Jones, with more than 6,000 jobs in the balance ahead of state elections in Victoria and New South Wales. Anchorage also has infrastructure and technology companies in its portfolio that could benefit from the counsel.
The private equity firm declined to comment. A spokesperson for Bondi Partners said it does not discuss its clients.
The report notes that a spokesperson for Anchorage told the masthead only last Thursday that the firm was still considering whether it would participate in a sale process to buy the retailer back out of administration.
The report adds that if political sentiment were to sour, that process could become more uncomfortable for Anchorage’s leadership team, regardless of what power state and federal governments may have to intervene.
