Fairfax reports possible takeover by David Jones, but the South African company denied any such intention.

Article here

Though there is a chance this could be turned around, it requires a willingness to do so and the execution skills to do it well. 

Right-sizing the business, avoiding unnecessary capex, maximising future (perhaps ultimately declining) cash flows requires visionary leadership -- and i'm not sure that is likely.

With Solomon Lew in the mix, there is certainly hope, and I respect the bull case, but I think the risk-reward profile is not attractive.

Pennies in front of a steam roller...