MELBOURNE, Jan 5 (Reuters) - Australian electronics retailer...

MELBOURNE, Jan 5 (Reuters) - Australian electronics retailer Dick Smith Holdings (DSH) said on Tuesday it has appointed administrators after its lenders refused to shore it up against plunging sales.

"Whilst confident on the long-term viability of the Company, the Directors have been unsuccessful in obtaining the necessary support of its Banking Syndicate to see it through this period," Chairman Rob Murray said in a statement.

"The Directors are of the view that without this support, there is no option other than to appoint a Voluntary Administrator."

The company has appointed McGrathNicol as administrator, and said it planned to explore all options to allow it to continue as a going concern.

Dick Smith shares last traded at A$0.35, valuing the company at A$84 million ($60 million) after an 83 percent plunge in its shares last year.

($1 = 1.3912 Australian dollars)

Keyword DICK SMITH HLDG BANKRUPTCY/