The fiercest criticism was saved for private equity operator Anchorage Capital Partners, which took control of Dick Smith in 2011 after negotiating a deal worth about $115 million and then listed the business through a $520 million public float less than two years later.
One high profile retail executive said Anchorage and former Dick Smith director Bill Wavish had a lot to for answer for.
"It's all about greed, investors think they are going to get something fantastic but all private equity does it dress up these businesses up for sale," he said.
"Bill Wavish has a lot of answer for, he was also the guy who put Myer out at about $4 (a share)... he floated these businesses, walked away with millions and left investors seething."
