Upmarket department store David Jones is back in local hands as Anchorage Capital Partners takes the keys on Monday to the 185-year-old retail icon, aiming to create a near-$1 billion online business by doubling web turnover.

Managing partner Simon Woodhouse is the new chairman, partner Beau Dixon – who spearheaded this deal – and Anchorage founder Phil Cave will assume board seats, joining David Jones chief executive Scott Fyfe.