No real bidders have emerged for the Dick Smith retail chain with both private equity firms and overseas investors failing to put in "realistic" bids.
A major sticking point has been the estimated $50M that is needed to restock the struggling chain and the exit of management to run a restructured operation.
Insiders are tipping that a move will begin next week to start closing stores with the business set to be wound up and placed into liquidation.
Some store leases could be taken over by other retailers these include the Move stores and some New Zealand stores.
http://www.smartoffice.com.au/busin...r-dick-smith-supplier-support-evaporates.aspx
Much the same is reported in The Australian for those who subscribe.
http://www.theaustralian.com.au/bus...s/news-story/5b407e8223d50c480ac9d40aa313c498
No real bidders have emerged for the Dick Smith retail chain...
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