Major insurer QBE pulls cover for 'high risk' retailers Myer, DJs
One of Australia's largest insurers will no longer provide cover for suppliers of struggling retailers Myer and David Jones after deeming the traditional department store sector too risky to insure.
In a letter from QBE Insurance to suppliers, seen by The Age and The Sydney Morning Herald, the $13.2 billion insurer said it would no longer provide trade credit insurance for Myer and David Jones due to concerns the two retailers may not survive the COVID-19 crisis.
MYR Price at posting:
24.5¢ Sentiment: Hold Disclosure: Not Held
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