Menu
​Staff and stores cut as Dick Smith decline deepens

​Staff and stores cut as Dick Smith decline deepens

“Dick Smith is working to identify opportunities for future employment for as many of the affected staff as possible..."

Dick Smith, the embattled consumer retailer across Australia and New Zealand, will close down 27 of its stores in the coming months, resulting in the loss of 181 employees.

In a statement released to the Australian Stock Exchange by receivers and managers to Dick Smith Holdings and associated entities, Ferrier Hodgson, the closures will take place in Australia - specifically those contained within department store David Jones.

“Twenty-seven David Jones Electronics Powered by Dick Smith concession stores, contained within David Jones department stores across Australia, will close,” Ferrier Hodgson stated.

With the future of the company still uncertain, receivers are currently undertaking an ongoing review of the operations of the group, with plans in place to ensure stable operations in order to negotiate a sale.

“As a result of this review, the receivers have determined that they will no longer continue to operate the 27 David Jones Electronics Powered by Dick Smith concession stores, contained within David Jones department stores,” the statement added.

Consequently, the relationship between Dick Smith and David Jones will terminate on January 27 following a mutual agreement between both parties.

Of the 181 employees impacted by the closure, this includes two full-time employees, 78 part-time employees, and 101 casual employees.

“Dick Smith is working to identify opportunities for future employment for as many of the affected staff as possible through the Dick Smith network,” the statement added.

“The receivers advised that the closure of the concessions is a necessary step in the restructuring to assist in ensuring the commercial viability of the Dick Smith group businesses.”


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags dick smith

Featured

Slideshows

Tech industry comes out in force as Lancom turns 30

Tech industry comes out in force as Lancom turns 30

A host of leading vendors and customers came together to celebrate the birthday of Lancom Technology in New Zealand, as the technology provider turned 30.

Tech industry comes out in force as Lancom turns 30
The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Show Comments