Last remaining Dick Smith stores to close by May 3
Australia's remaining 195 Dick Smith retail stores will close up shop by May 3, the company's receivers today announced. All in all, 301 stores in Australia, 62 stores in New Zealand, and four airport stores will have been affected by the closure, impacting almost 3,000 staff.
Today's news follows a tumultuous saga that started when Dick Smith went into voluntary administration after a "go-for-broke" sale at the end of last year failed to generate sufficient revenue. The retailer's receivers and managers attempted to find a buyer for the business, but attempts to sell Dick Smith were unsuccessful. This kicked off an eight-week period that has seen a number of stores already shut down.
The Dick Smith brand will however live on past May 3; e-tailer Kogan announced its purchase of the company's online store last month. Kogan will run a Dick Smith web store as a separate online business from the begin of June, independent to Kogan.com.
In the lead up to the end of days, Dick Smith stores have been selling remaining stock at heavily reduced prices. In some cases, stores are even putting fixtures and furnishings up for grabs.