This has nothing to do with Dick Smith, the man, of course.
Once they tried to reinvent Dick Smith Electronics as a consumer electronics retailer, it seemed entirely likely that they'd go under sooner or later, since that market is cut-throat.
No great loss.
Sylvia.
Heh, when I was in there buying a couple of HDMI cables (2 pack 5M for $20) just last week I noticed they were moving stock around with a lot of empty shelving and I asked the manager (who I know from what he did previously) half jokingly if that was it and they were closing shop.
He said it was just the after-Christmas stock reshuffle but it looks like I wasn't far off the mark.
Perhaps, though I doubt he knew about the administration. Once the directors decide that an administrator is required, they have to appoint one as soon possible, or risk being accused of trading while insolvent.
Sylvia.
He wouldn't have known about the administration, he's just started the job. I just meant my comments were quite salient to the situation DSE was actually in, in hindsight.
I always thought they were doomed, as towards the end they did nothing particularly great and their competitors did it much better.
Nope.
** DSE is still trading and is about to be offered for sale as a going conc ern. There is a massive debt owed to the NAB and various suppliers, so that may not happen.
But the name itself would be a valuable asset for someone and so is not lik ely to completely disappear.
Possibly it could be used for an electronics equivalent of Aldi, where all the goods use in-house brand names with low prices and face no direct compe tition. DSE was pretty much like that back in the 70s and 80s when Dick imp orted nearly everything from HK and Taiwan and stuck his own name and cat n umber on them.
Dick's oft stated fear that the "Aussie" company he started could wind up w ith a foreign owner is about to come true.
.... Phil
I wonder if there's been any comment from Dick himself?
I think I remember him saying something in the ABC TV news report I saw, might have been stock footage though.
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