ChannelLife Australia - Final farewell: Closures for last Dick Smith stores set

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Final farewell: Closures for last Dick Smith stores set

The doors on all remaining Dick Smith stores will be closed for the final time on May 03.

The receivers for the failed business announced the dates for the closure of the remaining 195 Australian stores today, saying the stores will close progressively between 27 April and 03 May.

Nearly 3000 staff across Australia and New Zealand have been affected by the ‘controlled closures’ of 301 Australian stores and 62 in New Zealand.

Closures began in March after Ferrier Hodgson was unable to find a buyer for the business, saying while they had received a ‘significant’ number of expressions of interest from local and overseas parties, the sales process hadn’t resulted in any acceptable offers for the group as a whole, or for the Australian or New Zealand operations as standalone businesses.

Twenty-seven David Jones Electronics Powered by Dick Smith concession stores were closed in January.

Mornington in Victoria was the first of the Dick Smith stores to go in March, followed quickly by others, with the closures gathering steam since then.

All New Zealand stores are due to be closed by April 26.

Dick Smith debts are close to $400 million, including $140 million to banks NAB and HSBC.

Kogan.com is due to begin operating the new online Dick Smith business, under the Dick Smith brand, from June 01 after buying the business including goodwill and brand, for an undisclosed sum.

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