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Thousands of Australians to lose jobs as Dick Smith closes all stores

February 25, 2016 - Uncategorized

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Almost 3,000 people are set to lose their jobs after electronics retailer Dick Smith shutters its stores in Australia and New Zealand.

In early January, it was announced the chain would be going into voluntary administration after months of serious financial trouble. At that point, the company said it would look for potential purchasers and existing employees hoped they would be able to keep their jobs.

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On Thursday, Ferrier Hodgson, the company that has been managing Dick Smith’s receivership process, announced in a statement (PDF) that no acceptable offers of purchase had emerged. As a result, approximately 2,460 staff will lose their jobs in Australia and 430 in New Zealand. The remaining 363 stores will shut their doors in a process expected to take eight weeks. Read more…

More about Dick Smith, Australia, and Business
Source: Mashable

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