Dick Smith Enters in Liquidation, Closure of Stores / Closing Down, Sales

Lthe-mal on 04/01/2016 - 11:21
Last edited 02/05/2016 - 15:37 by 3 other users

Dick Smith shares are now in a trading halt with an announcement on debt financing due by Wednesday.

More bad news for Dick.

http://www.smh.com.au/business/retail/dick-smith-shares-ente…

Get the bargains whilst they last because I can't see Dick Smith existing much longer.

Recent Updates:

Discounts via BI:

Apple products, including iPhone, iPad, Apple Watch: 5%
Apple cables: 30%
Game consoles and games: 20%
All TVs: 20%
Samsung phones, tablets and TVs: 20%
All Smartphones (Except iPhone): 20%
Laptops: 20%
Microsoft, including Surface products: 20%
Drones: 20%
DSLR cameras: 20%
Headphones, including Beats: 30%

Older Updates:

General Discussion

Related Stores

Dick Smith / Kogan
Dick Smith / Kogan
Marketplace

Comments

  • goraygo on 11/01/2016 - 11:44
    +1

    Went to a local store yesterday, a lot stuffs are still in full price and very little are on sale. Waste of time going there.

    People should've know if they are not on sale, no one is going to buy anything from them. :)

    • happychappy1 on 11/01/2016 - 12:20
      +2

      Wait until they properly decide to shut down and liquidate, then go.

      • ChickenTalon on 12/01/2016 - 15:37
        +1

        I did the same. looking for a bargain on an old 30-pin apple cable. They wanted $30. It was a very funny experience. All the stock is in the bargain bins, but back up to 4-5 years ago RRP.

        Fancy a 1A 1 port USB car charger? that'll be $39.
        Or a car charger with a built in 30-pin cable? that'll be $39.

        Crazy. Waste of time even having a store open. Needless to say there wasn't a single dollar ringing through the tills in few minutes I was there. Over to JB and people are queuing to hand them money.

        I guess this will legitimately claim WAS $<crazy rrp price>, NOW $<high, but reasonable>

  • Flowerbomb on 11/01/2016 - 15:55

    I wanted to get a note 3 in my local DJ DSE store today. The price today is RRP $838, seriously for a 2 year old phone??!

    I previously got one for my folks at the same store for $317 in Dec 2015. If anyone seen a note 3 in a NSW store, please PM me.

    • hollykryten on 12/01/2016 - 13:45

      Insane. Officeworks had it going for $499 but although sold out every where now. http://www.officeworks.com.au/shop/officeworks/p/samsung-gal…

      Here's an example. You can buy brand new Note 3 32GB smartphones through eBay for $429.95 from a seller in Sydney.

      http://www.ebay.com.au/itm/New-Unlocked-Samsung-Galaxy-Note-…

      No wonder DSE went broke if they're charging full RRP on a lot of items when look above the same phone can be bought elsewhere for a little as $430.

      • Flowerbomb on 12/01/2016 - 14:00

        Thanks. I might get the s6 edge from jbhifi instead! Seems like a good deal.

    • zyklotrop on 12/01/2016 - 14:15

      I had the same thing at the DJ DSE in Adelaide (when the panic sale started): they still had the Sony Xperia Z1 and the Xperia Ultra on display!

      Both 2 year old phones, both still at full price for $750 each. I was lucky and snagged them at 90% off that day, the staff were REALLY helpful!

      • juzz0 on 13/01/2016 - 14:01
        -2

        The price you purchased the Xperia Z phones at was standard across DSE run stores from around December 4th to 29th December.

        The Xperia Z I purchased from DJ DSE was faulty so brought it back within a month but they told me they could not replace it and if I wanted to buy a replacement it would be $750! They told me to contact the manufacturer but it could take 3-4 weeks to get back to me. Also if the issue is physical (even if it is internal) they would charge me the cost of repair. I brought it up with fair-trading but David Jones claimed they had been in contact with me and my issue was being addressed (the fair trading officer telling me in the generic email if I had any further issues go to NCAT, the tribunal, or take it to court myself). It has not been addressed! At bare minimum I am going three weeks without a phone and might be liable for a repair charge on a faulty phone they sold me.

        I have called up Ferrier-Hodgson about this (the stock realisation team for DSE group) but the girl (she sounded about seventeen) told me they had no control on pricing the stock. Even though they are in charge of getting value from the stock to the creditors! It's ridiculous that a phone can be classified as end of life/discontinued (it came out three years ago in the first half of 2013) and now is priced at $750 on their system. Two weeks ago it was $75! Ferrier-Hodgson seem to have as little clue as Dick Smith before it. Due to the sale prices there is little stock of the Xperia Z/Z Ultra's left and the one I offered to purchase was ex-display with numerous scratches on the back (rivets not surface) and missing port flaps. Shopfront staff told me they couldn't go below cost price on the system which was around $700. Told me they could go to $75 last month as the system cost price was changed. How can DSE change cost price? The deals on the Xperia Zs were good as they would be fair value around $250-300 still (even in 2016 after z2, z3s and now z5s have come out) but this display model would probably sell on gumtree for around $150 (such is the worn used condition). So I don't think a price of $75 or $100 (what I'm willing to pay) is outside the norm or unreasonable. And considering they sold me a defective phone they were unwilling to replace (due to receivership issues) I think that is the least they could do for me!

        I have spent over $50 on accessories for the phone (the micro USB wasn't working so I was trying to charge it via metal contact cradle also purchasing an MHL link HDMI converter to see if the micro USB would detect or screen through a TV) and recycled my old phone (there was a salvos drive on at Christmas). So I'm wanting to at least buy another Xperia Z for the month to use for the month it takes this one to repair, or get it replaced (even with the cosmetically flawed display stock) but not for $750! As is I'm phoneless and have been using payphones and visiting a friend to use her phone. The way I have been treated by both David Jones and Dick Smith receivers has been a disgrace.

        • ChickenTalon on 13/01/2016 - 15:40

          Pay with credit card? Do a chargeback, or at least tell DJs Dick Smith you'll be doing one.

        • puffinfresh on 14/01/2016 - 14:34

          So you haven't sent it to the manufacturer for a repair under warranty? Do that. Even if you have to agree to pay costs for anything not covered by warranty. It's unlikely that any such cost will be charged.

        • juzz0 on 14/01/2016 - 14:46

          @puffinfresh: Ok thankyou for your advice and time. I have sent it back to the manufacturer and now I'm contacting Ferrier Hodgson to ask what happened to the pricing for this 3-4 year old model. It seems ridiculous a phone which was selling for $75 last month has jumped up to $750 (nobody in their right mind would pay for an original Xperia Z at that price). I don't have an android phone at the moment which is even interfering with my ability to turn my lights on! (I run smart lighting) Hopefully they will be quick with the repair (I doubt there will be manufacturer replacement as it has been discontinued for over a year).

        • puffinfresh on 14/01/2016 - 14:51

          @juzz0: Cool. I'm sure Sony will sort it. Obviously it sucks that you don't have a phone for the moment. It's a shame more manufactures don't give you the option where they put a temporary charge on your credit card and send you a refurb and a reply paid package so you get a working phone straight away, and then send your original one back to them.

        • bluedufflecoat on 15/01/2016 - 08:24

          Stop fussing over their clearance sale price which is never coming back. On Ebay it looks like it's around the $250 mark. Hounding Ferrier Hodgson is not going to give you any outcome that you would like… you want to claim "specific performance" on a product you paid $75 at DS. They're more concerned about doing what they were hired to do by DS' creditors, ie. getting them their loan money back, i.e. $400,000,000!!!

        • juzz0 on 15/01/2016 - 11:42

          @bluedufflecoat: It's not "specific performance" it's a major fault of the phone that it does not charge using supplied parts. That the micro-USB does not work. For major problems relating to purchases under normal course of business I am entitled to my choice of repair, replace, refund. I purchased this phone from David Jones, even though the electronics section is run by Dick Smith I purchased inside the David Jones, the receipt is from the David Jones. When the stock is available to the store and the Point Of Sale store is still operating I don't understand how they can refuse a replacement.

  • nismo on 15/01/2016 - 20:34

    An Open Letter from Dick Smith
    http://www.dicksmith.com.au/open-letter

    With a reference about Cash Refunds .…

    • bluedufflecoat on 15/01/2016 - 21:04
      -1

      Page not there

      • muncan on 15/01/2016 - 21:39
        +1

        Page not available on mobile.
        No mention of gift cards.
        GTFO Dick Smith.

        • nismo on 16/01/2016 - 07:32

          Yeah, we'll take your cash, but we won't give you what you're already owed…

        • INFIDEL on 16/01/2016 - 16:53

          Request desktop site on mobile.

          But nothing to see - they offer cash back refunds & manufacturer warranties on product sold AFTER receivers took over.

  • choister on 22/01/2016 - 13:49
    +1

    Guys, it's in the news that DS will close down DJ electronics department.

    Does anybody know if DJ electronics will have a massive sale???

    • annarchon on 23/01/2016 - 09:34

      Nope. They are looking to transfer stock rather than sell it all off. 10-20% off is all you are looking at. Perhaps the deals will be better as we get closer to the 27th. But don't count on it.

  • joelbarish24 on 26/01/2016 - 08:58
    -7

    Hmm…having a change of heart Dick?

    http://www.smh.com.au/business/retail/dick-smith-seeks-asian…

    I could have sworn you despised Chinese (Asians with the most money)

    Dick Smith opposes Chinese investment

    https://au.news.yahoo.com/thewest/video/watch/17260953/#page…

    Now you need someone to save your sorry excuse for an empire.

    • peter05 on 26/01/2016 - 10:31

      dick smith doesn't own the stores or have anything to do with them, just his name. So yes he still opposes foreign investment, just that he can't do anything about what shareholders do about the store he sold 20+ years ago

    • exile on 26/01/2016 - 10:33

      Yeah Dick Smith the person has always been against foreign ownership. But what has the Dick Smith stores have anything to do with the person? Its been pointed out many times in this thread that Dick Smith the person has not owned Dick Smith stores since he sold it to Woolies in the early 1980s. Its a publicly listed company now and currently run by administrators and they have no problems selling it to the highest bidder to recover as much as possible for the credit holders. So no I doubt Dick Smith the person has had any change of heart. I wouldn't be surprised if he decides to campaign against it if he hears of a deal coming up.

  • ant meal on 02/02/2016 - 14:56

    I bought a reasonably expensive camera from DS just before Christmas, with a one-year warranty and I bought an extended 3 year warranty by DS. Where do I stand if the camera packs up?

    • the-mal on 02/02/2016 - 15:03

      Assuming it's not a Dick Smith branded camera you'll still be covered by the manufacturers warranty (made much easier if the manufacturer has a presence in Aus eg Canon, Sony, Nikon, Pentax etc). As for your extended warranty, have you checked the documentation to ensure that it's not underwritten by another company? Most (if not all) of Dick Smith Extended Warranties are underwritten by these guys: http://www.thewarrantygroup.com.au/

    • ninetyNineCents on 26/02/2016 - 01:01

      Don't ever buy those extended warranties they are the biggest pay money for nothing scams out there. Australia law requires a minimum one year warranty plus more time if a typical person would expect that product to last more time. For example nobody would expect a tv to blow up after 12 months, therefore it's entirely reasonable to expect waranty for a tv even when it's 3 or 4 or 5 yo.

  • DaptoDog on 25/02/2016 - 14:59
    +5

    An announcement has just been posted on the ASX that Dick Smith will close all of its Australian and NZ store within the next 8 weeks. Bring on the liquidation sale (not that there is that much left worth buying).

  • Grok on 25/02/2016 - 15:05

    Well that is the end of the Eneloop deals……….

  • digitalterrorist on 25/02/2016 - 15:06

    ASX linky http://www.asx.com.au/asxpdf/20160225/pdf/435c73y138nrst.pdf

    Loss of 3000 jobs.

    Good bye to the Gift cards, no chance of getting money back if it was bailed out and honoured by a "white knight" purchaser.

  • pyramid on 25/02/2016 - 15:16
    -1

    Who is going to honor warranty for product purchased from DS?

    • digitalterrorist on 25/02/2016 - 15:17
      +1

      The manufacturer of the product.
      If it's a DSE branded product then you crap out of luck.

    • Olokun on 25/02/2016 - 15:18

      https://www.dicksmith.com.au/open-letter

      And you can rest assured in the knowledge that all customer guarantees for products purchased during receivership will be honoured , no matter what happenes to the business

      So the receivers I am guessing.

  • Food on 25/02/2016 - 15:18
    +2

    They're gawnnn

  • RogueWolf on 25/02/2016 - 15:21
    +7

    there goes DS for good, feel for the workers, HN, TGG, JB laughing, dont have DS to price match/compete against.. big losers are us with less competition

  • tomwood on 25/02/2016 - 15:25

    Crazy

  • titan0r on 25/02/2016 - 15:30
    +16

    Big Question: When does the sale start?

    • Koolbargain on 25/02/2016 - 15:37

      Will all stores be going on sale at the same time or individual store closing sales? I got my eye on a few things…

    • vjknight on 25/02/2016 - 15:38
      +11

      you heartless B. how could you.
      .
      .
      .
      .
      .
      yeah when does it start ?

      :)

    • digitalterrorist on 25/02/2016 - 15:42
      +1

      Check FleaBay and ScumTree for all the bargains. :)

    • Wilkshake on 25/02/2016 - 15:44

      A period of time before all the Dick Smith workers lose their jobs.

    • chonghe on 25/02/2016 - 15:44
      -1

      I also look for sale. Can we still trust Dick Smith online or only buy in-store is safe?

      • abc on 25/02/2016 - 17:02
        +4

        Personally I wouldn't trust online in a liquidation sale. So many things can go wrong in the process of the supply of goods after you have purchased online and there is only 8 weeks left for Dick Smith :(

  • lysp on 25/02/2016 - 15:39
    +13

    Employee email:

    https://i.imgur.com/yEapZrv.png

    Sales start tomorrow (Fri 26th Feb) according to that, with sales signage to arrive over next few days.

    • lainey13 on 25/02/2016 - 15:45
      +2

      I expect clearance by staff to begin tonight then…

      • berger on 25/02/2016 - 15:58
        +18

        They are out of a job, go easy on them, seriously

        • Viderzo on 25/02/2016 - 16:23
          +3

          Agree, more than happy if they strip the store clean before tomorrow. It is disgraceful the way the company been treating their workers.

        • titan0r on 25/02/2016 - 16:31
          +4

          @Makoto:
          having a bad experience at "one" of their retail stores doesn't give you the right to be a di*k.

        • elusive on 25/02/2016 - 17:10

          @Makoto: TBH the vast majority of my DSE experiences have been excellent. Mostly the Chatswood store - but staff were alright in the Sydney CBD stores too. Bit slow at George St but certainly nothing that'd make me wish they'd lose their job over it!

        • [Deactivated] on 25/02/2016 - 17:51
          -2

          @titan0r: EVERY dicksmith store ive ever been in

          it used to be staffed by intelligent people who knew about resistors and shit, they replaced them with idiots that wouldnt know their ass from their elbow about any product in their own store

          glorified check out chick, no wonder they went broke, imagine having staff in your store that dont know anything about the products? amazing

        • Frig on 25/02/2016 - 21:11

          @Makoto:

          A bit harsh but I get what you're saying.

      • marka on 25/02/2016 - 16:21

        I prefer if they did.

    • Koolbargain on 25/02/2016 - 15:46

      I wonder if this be a sale storewide or specific items? Also, does the sale usually become better the closer it is to closure?

      • berger on 25/02/2016 - 15:59
        +1

        saving are bigger towards closure, but the popular items go early in the sales…

        Don't except cheap ipads in the last week.

    • Rebelstorm on 25/02/2016 - 16:18

      Interesting article.

  • enforcer on 25/02/2016 - 16:09
    +1

    I was in a store just before and one staff said to another that they just heard it. Felt bad for them.

    • ozbjunkie on 25/02/2016 - 16:34
      +1

      I'm about to pop in to my local. Not sure I will mention this except perhaps to give them time to open eBay stores.

      No hate, for minimum wage i would be doing it.

      Yep, media infomed before staff. Slack dick…really slack

      Staff don't have a list of discounts to offer me, but they have "heaps of stock" out the back.

      Anyone got a price list?
      Will this deal include online stock?

      • Zythyx on 25/02/2016 - 16:51

        The Employee email was sent out the same time as the public ASX notice was posted, media just happens to have a bigger presence than employees inbox.

  • Noonoo on 25/02/2016 - 16:41
    +2

    I feel sorry for the OzB mods having to take down every "DICK SMITH LIQUIDATION SALE" or "DICK SMITH FIRE SALE"

    But a big sorry to all those employees who are now out of a job.
    Not all the employees were assholes in some stores some of the employees were great and helpful
    For those, I can only hope for them the best

  • TRENT86 on 25/02/2016 - 16:47
    +2

    This is such bad news! if I had the money I would purchase it and run it on with ozbargain lol

    • muncan on 25/02/2016 - 19:21

      Employee Update #14 says they'll be selling fixtures and fittings. @Scotty is it time to set up OzBargain shop?

      • TRENT86 on 25/02/2016 - 19:22

        We can all put in some money lol

  • BargainKen on 25/02/2016 - 16:50

    Too bad for dickies

  • Clear on 25/02/2016 - 16:57

    Lets all chuck a sickie on the closing sale and camp outside the door. Jk all the staff will grab the deals and I don't blame them. Losing your job sucks.

    • xyron on 25/02/2016 - 17:15

      Can't be too bad if they've got the spare income/funds to buy up all the discounted stock. Reports are confirming that DSE staff will be paid their entitlements in full so they don't really have anything to worry about. Job security is not a right in our modern economy (for better or worse).

      • Clear on 25/02/2016 - 17:42

        They're still losing their jobs and income. It's not about if they can afford it or not.

        • xyron on 25/02/2016 - 17:47
          -1

          Yes it is. If they don't need their saved income for food, rent etc, then the ability to buy DSE goods at liquidation prices would indicate that they are quite comfortable indeed.

          DSE salespeople aren't supposed to be living on the North Shore - it is not a skilled profession.

        • Clear on 25/02/2016 - 17:52

          @xyron: Loss of income. After their job is gone they'll have to find a job which won't be easy for a lot. How else will they support themselves? Centrelink?

        • [Deactivated] on 25/02/2016 - 17:54
          +7

          @xyron: welcome to ozbargain, where any previous DSE deal was "SCREW THEM ASSHOLES, DONT GIVE THEM ANY MONEY, THEY ARE USELESS IDIOTS"

          to now "OH THEM POOR LOVELY PEOPLE, I FEEL SO SORRY FOR THEM, THEY WERE SO GREAT"

        • Clear on 25/02/2016 - 18:14
          +1

          @Makoto: Would you rather me worship TA ;)

        • pointless martyr on 25/02/2016 - 18:15

          @Makoto: good point - im sticking with the former right to the end

  • pointless martyr on 25/02/2016 - 17:02
    +5

    Damn, where am i going to get my $80 hdmi cables?

  • [Deactivated] on 25/02/2016 - 17:04
    +21

    Folks, the sale won't be any good at all. The stores are getting liquidated by Hilco. They liquidated over 100 Dick Smith and Tandy stores for woolies only 4 years ago, so they are no stranger to the business.

    What does this mean exactly? They will put up their dramatic store closing signs start at full RRP, and gradually increase the percentage of the discount, initially starting from 5 to 10%, from tomorrow. Most goods will probably be more expensive then the competition until the last few weeks of the sale, in which there will be barely anything left anyway (not like there is really anything left now anyway to be honest).

    Source? I wrote this AMA and saw Hilco in action during my time at DSE, and it's precisely what they did.

    • pointless martyr on 25/02/2016 - 17:34

      Looks like they will be rinsing ignorant mums and oldies of their money to the very end…ironic really that one of the major causes of their downfall is how they will be able to pay the staff for the next few weeks

    • fruxo on 25/02/2016 - 17:34

      I assume even then that there will be a few genuine bargains to draw in crowd? I'm off work tomorrow, but considering whether it's worth even stopping by as I'm of the same view as you.

      • [Deactivated] on 25/02/2016 - 17:36
        +3

        Doubtful. Hilco follows the same liquidation model for pretty much all businesses that they're given control of - no specific specials, just % off RRP, gradually increased until nothing is left.
        The only thing I'll be keen to see is if they sell off fixtures towards the end of the sale, I'd love to get myself a souvenir.

        • fruxo on 25/02/2016 - 17:38

          That sounds terrible. Not sure how they can justify those massive signs you posted then, but maybe the 70% of item is an overpriced HDMI cable or similar.

        • [Deactivated] on 25/02/2016 - 17:40

          @fruxo: those signs start as 10-70% off signs, they gradually add more and more numbers as the weeks pass by :) Or they'll do those sorts of "70%" off discounts on one product category, e.g cables ($50 HDMI cable becomes $15) if there is a huge amount of inventory.

          I wouldn't be confident in the ability of Hilco to shift all of the private label stock through retail channels within 8 weeks unless 90%+ off is given - the warehouse would still be full of it even now let alone the stores. I'd expect Dick Smith and Move branded product to appear in various places (Most likely COTD, COTD has a pre existing commercial relationship with Dick Smith) for next to nothing for the next year or so.

        • unity1 on 25/02/2016 - 18:39

          What sort of souvenir?

        • muncan on 25/02/2016 - 19:34
          +1

          @unity1: A display rack for Eneloops, FTW.

        • unity1 on 25/02/2016 - 19:49

          @muncan: I'd go for one of these old style DS signs https://files.ozbargain.com.au/upload/39370/37508/dick.jpg

        • muncan on 25/02/2016 - 20:11
          +2

          @unity1: Fixed it for you? http://i.imgur.com/mXnRDr2.jpg
          Channeling @Scotty

        • unity1 on 25/02/2016 - 20:32

          @muncan: Clever Dick

    • franco cozzo on 25/02/2016 - 18:15

      ta…assumed there wouldnt be any point checking it out

    • annarchon on 25/02/2016 - 21:26

      Yep. Also, the leaked employees letter pretty much stated as such as well. Controlled liquidation for a period of 8 weeks. So chances are the sale would go for at least 4-6 weeks at the minimum before commencing shutting down for good.

  • pointless martyr on 25/02/2016 - 17:11
    +1

    Lets play "Tomorrows Headlines"

    Ill go first:

    "Lame Dick Finally Boned: Pulling Out Immediately"

  • jv on 25/02/2016 - 17:49

    Does this mean the email SPAM will soon stop?

    • boonanza on 25/02/2016 - 17:53
      +3

      Only if you stop sending it JV

    • [Deactivated] on 25/02/2016 - 17:58
      +3

      clicking 'unsubscribe' is a really hard thing to do

      how do you live day to day when you seemingly struggle to do something so simple?

      • pointless martyr on 25/02/2016 - 18:00
        -3

        clicking 'unsubscribe' is a really hard thing to do

        As is getting a point across without using sarcasm, apprently

        • [Deactivated] on 25/02/2016 - 18:12
          -5

          as is using spell check aprraltnyleey

        • pointless martyr on 25/02/2016 - 18:14

          @Makoto: really? I skipped a single letter In haste obviously….c'mon now i am sure u r better than that!

        • [Deactivated] on 25/02/2016 - 18:27
          -1

          @pointless comment: stop making pointless comments, i dont care what you have to say ^_^

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