It's the familiar name that's sold tech to Australians for more than 60 years, but after a storied and sometimes rocky history, Dick Smith is set to close, putting an end to stores and almost 3, jobs. A mainstay of the Australian tech landscape for close to 60 years, Dick Smith will be closed for good by the winter, with more than stores to shutter across Australia and New Zealand, and almost 3, staff to call it a day. The final chapter in the Dick Smith legacy came after a torrid few months that saw the retail group enter receivership in January off the back of weak sales results and a plunging share price.
November 2, Leroy Wolland, Colliers national director of Retail, says nearly half of all the stores nationwide have been re-leased to a range of categories and big brands, however many of the smaller regional locations remain vacant. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership.
Updated February 25, The founder of Dick Smith electronics says greed caused the business' downfall, as stores across Australia and New Zealand prepare to close over the next eight weeks. The company was forced to announce the closures after its receivers were unable to find a suitable buyer for the company.
Dick Smith Holdings Limited formerly Dick SmithDick Smith Electronics or DSE was an Australian chain of retail stores that sold consumer electronics goods, hobbyist electronic components, and electronic project kits. The chain expanded successfully into New Zealand and unsuccessfully into several other countries. The company closed inwithin several years of its acquisition by Anchorage Capital Partners.
On 13 Julythe voluntary administrators released their section A report to creditors and notice of the second creditors' meeting. The creditors' second meeting is scheduled for 25 July For more information, visit the McGrathNicol website.
Dick Smith's online store has reopened today under the new management of Kogan - a month ahead of schedule. The new Dick Smith store is already stocked with over 5, products from the likes of Samsung, Apple and Microsoft. Founder Ruslan Kogan said in March he had no plans to reopen Dick Smith as a brick-and-mortar retail store.
If you believe the former executives and directors of Dick Smith, this was the collapse that should never have happened. The sad final receiver sale, the thousands of angry gift card holders, the staff left jobless — it could have all been avoided if its bankers had not pulled the plug and appointed receivers after a cash crisis late last year. Louise Kennerley.
Purchased Nike runners for my granddaughters birthday. When I found out they did not fit after her visit from the North Coast I tried to return for a smaller size. Could not work out how to do a return and was trying to contact the Customer Care line for days. Do not bother as you only get a recorded message no matter when you call.
Ferrier Hodgson was appointed as receivers and managers. All of these are now set to close after receivers failed to find a buyer for the physical operations. A second round of closures will occur on 9 April, followed by a third round on 16 April.