SYDNEY, Feb 25 (Reuters) - Bankrupt consumer electronics retailer Dick Smith Holdings Ltd (DSH) will close down its remaining 363 stores in Australia and New Zealand after failing to find a buyer, receivers and managers of the company said on Thursday.
"Unfortunately the sale process has not resulted in any acceptable offers for the group as a whole or for Australia or New Zealand as standalone businesses," receiver James Stewart said in a statement.
"The offers were either significantly below liquidation values or highly conditional or both."
The retailer went into receivership with debt of A$390 million ($279.55 million) earlier this year after suffering weaker-than-forecast sales thanks to headwinds including competition from online retail.
The closure of its stores in both the countries is expected to take about 8 weeks, impacting nearly 3,000 jobs, receivers and managers said.
($1 = 1.3951 Australian dollars)
News: Australia's Dick Smith fails to find buyer, to shut remaining stores
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