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Dick Smith’s online assets for sale

After failing to find a buyer to take the reigns of Dick Smith, the receivers are now selling the embattled electrical retailer’s online business and intellectual property.

Last week receivers, Ferrier Hodgson, announced all of Dick Smith’s Australian and New Zealand stores — excluding airport locations —  would close within eight weeks after failing to find a buyer to run the business as a going concern.

An advertisement published in the Australian Financial Review today is calling for expressions of interested for Dick Smith’s intellectual property, including its online businesses, brands and trademarks, customer databases, websites and domain names.

Potential buyers have until Friday, March 4 to lodge their expression of interest with Ferrier Hodgson.

Dick Smith collapsed into administration on January 5 with debts of around $400 million.

“While we received a significant number of expressions of interests from local and overseas parties, 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. The offers were significantly below liquidation values or highly conditional or both,” receiver James Stewart said.

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