DSH - Nick Abboud, page-8

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08/01/16

22:59

Post #: 16761262
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Originally posted by Keen Watcher ↑

It is difficult to see how they will find anyone crazy enough to take it on. Perhaps the NZ arm of the business but not in Australia, WOW trashed the business and the current mob have finished it off by destroying the brand.

http://www.skynews.com.au/business/...08/dick-smith-employees-face-8-week-wait.html

Dick Smith employees will have to wait up to eight weeks to discover whether the stricken electronics retailer will be sold as a going concern.
The receiver of the troubled chain has told employees across its 393 stores it will soon advertise the business for sale and told them they must have written authority from the receiver before undertaking a range of routine tasks such as placing orders or accepting deliveries of goods.
'We are immediately seeking a sale of the business as a going concern and advertisements will appear in the national newspapers shortly,' Ferrier Hodgson receiver James Stewart said in a circular to employees.
'We expect that the prospect of achieving a going concern sale will become clear in the next six to eight weeks.'
The time scale raises the prospect that Dick Smith stores may run out of stock after chairman Rob Murray said this week the retailer did not have funding to order required inventory for the next four to six weeks.

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I believe it is a case of not if but at what price and what terms.

DSH Price at posting: 35.5¢ Sentiment: None Disclosure: Held
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DSH - Nick Abboud, page-8

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