Woolworths is on the brink of delinking the balance sheets of its Australian businesses, giving it far more options for dealing with its 2014 acquisition, David Jones.

Until recently Woolworths was effectively chained to David Jones. This was because David Jones was inextricably linked to the Country Road business in Australia, whose assets were used as a cross-guarantee for the department store chain's debt...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now