Dick Smith announces closure of all stores

first_imgElectronics retailer Dick Smith has announced it will be closing its 363 stores across Australia and New Zealand within the next eight weeks, leaving 2,890 staff out of a job.The news was announced this afternoon by receiver Ferrier Hodgson, who said they had not managed to find a buyer for the company, which went into receivership last month with of approximately $400 million.“While we received a significant number of expressions of interest from local and overseas parties, unfortunately the sale process has not resulted in any acceptable offers for the group as a whole or for Australia or New Zealand as standalone businesses,” said receiver James Stewart.“The offers were either significantly below liquidation values or highly conditional or both.”According to a report by the Business Insider, a fire sale has been confirmed and will be taking place from tomorrow 26 February. Facebook Twitter: @NeosKosmos Instagramlast_img

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