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

        • pointless martyr on 25/02/2016 - 18:31
          -1

          @Makoto: ok….but what makes you think that anyone wants to hear whatever you feel the need to chime in with then? I hope the irony is not lost on you pal

          c'mon now i am sure u r better than that!

          well apparently not!

    • pointless martyr on 25/02/2016 - 18:07
      -1

      Most likely…doubt hilco will be paying the online marketing department much longer

  • spychiatrist on 25/02/2016 - 18:27
    +4

    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.
    Do Not Post about Dick Smith Closing Down.

    Seriously, Mods?

    • pointless martyr on 25/02/2016 - 18:30

      Please elaborate?

      • spychiatrist on 25/02/2016 - 18:31

        Go to the General Discussion front page

        • Skinnerr on 26/02/2016 - 04:35

          Context?

      • Clear on 25/02/2016 - 18:31
        +1

        See for yourself

        • pointless martyr on 25/02/2016 - 18:34
          +4

          Haha ok got it - dick is being pulled from discussion

          I think that discussing DSE is only fittng for ozbargain - their spam emails cut and pasted have been front page fodder for ozbargain for years - DSEs demise has actually left a bit of a gap in front page deals in The past few months

        • Clear on 25/02/2016 - 18:41
          +1

          @pointless comment: And the lack of freebies. There were loads 4 years ago and now hardly anything besides apps.

        • nismo on 25/02/2016 - 18:42

          This one?
          https://www.ozbargain.com.au/forum/7

    • franco cozzo on 25/02/2016 - 18:59

      you missed the important bit…

      'It has already been posted.' <-which links here.

      we dont need 50x threads in re dse

    • Moderatorneil on 25/02/2016 - 23:22

      Yes, even after a note on the front page, Facebook, Google +, stickying the thread + putting a 1 line warning, people still managed to post the same thing 9 times! It was only after putting the warning in multiple times and tweaking the title so the duplicate detection worked a bit better that it stopped.

      • GameChanger on 25/02/2016 - 23:25
        +7

        I think the closing down warrants a new thread; this one is 14 pages in which is why some might have tried to create a new one.

      • pointless martyr on 26/02/2016 - 02:49

        Sorry Neil but i find your post a tad condescending - people may have actually missed all the warnings and notifications - it is pretty big news given that a former aussie icon of retail has gone belly up…Maybe you should have sent a woof?

        https://www.youtube.com/watch?v=8wfG8ngFvPk

        all jokes aside, your post seems to be based more in opinion rather than from purely a mods perspective - perhaps you should have commented without the mod tag as per your comments in the thread below

        https://www.ozbargain.com.au/node/226478

        Hope you dont take any offense…was meant in upkeeping the healthy, democratic forum open to debate that is ozbargain

  • eisvath on 25/02/2016 - 19:17
    +14

    Knowing the attitude of some ozbargainers, I feel bad for DSE staff during the fire sales. The conversation will probably go something like:
    Nasty ozbargainer: "any discount on the TV"
    DSE staff: "no Sir/Ma'am, it is what it is"
    Nasty ozbargainer:"oh come on, they just fire you, surely you can do something for me"

    Nice ozbargainer, please be decent to the staff.

  • [Deactivated] on 25/02/2016 - 19:38
    -4

    Good riddance Dick.

    • Skinnerr on 26/02/2016 - 04:37
      +2

      They were once upon a time a valuable resource for electronic hobbyists and i fondly remember powerhouse was a decent home elec. appliance shop.

    • berger on 26/02/2016 - 08:07

      never made a purchase with Dick Smith?

  • PJC on 25/02/2016 - 19:52
    -1

    The cheeky buggers emailed me this very morning with yet more Mates Rates nonsense. It is impossible to trust a store which dishonours its own gift cards.

    • [Deactivated] on 25/02/2016 - 20:41
      +2

      ????? Dishonouring gift cards during receivership is nothing new. Its an associated risk of giving/receiving gift cards.

      Source: Worked at Angus and Robertson when the same thing happened and had to deal with winging and entitled (often violent) customers.

  • fatboyj on 25/02/2016 - 20:46
    +6

    So I'm going in tomorrow and see how much haggling power there is. Looking at a pair of wireless Bose headphones. Gonna start at $100. RRP$399

    • photon on 25/02/2016 - 20:49
      +7

      Lol, you made me spit my coffee out. Made me laugh with your comment

    • marc86au on 25/02/2016 - 22:21

      I doubt there will be any haggling at all able to be done now Hilco are involved. They'll just start with a % off each category and gradually increase. 8 week timeframe means there won't be a firesale until the end of the last day.

    • GameChanger on 25/02/2016 - 23:02

      I await your results.

  • juzz0 on 25/02/2016 - 22:23

    Went up to two nearby stores around closing time, pricing hadn't been sent by head office but one employee told me there wouldn't be anything dramatic on he first day (tomorrow) if in a couple of weeks of continuous discounting stock isn't being cleared then we may see 60-70% but he told me there wouldn't be much tomorrow. Maybe 10% off and to not get my hopes up that it would be anything like December clearance of old stock (which was up to around 90% off). Found out there were a few units of a product I was after, will be suspicious of staff hoarding/buying if they are all gone before open tomorrow. But they are losing their jobs so maybe not begrudge them. David Jones commission staff already gone last month.

    • muncan on 25/02/2016 - 22:32
      -3

      suspicious of staff hoarding/buying

      I support the last DSE staff hoarding/brodening all inventory. We owe it to them. If you spot a bargain, tell a DSE employee.

      I ❤️ Dick

  • nubzy on 25/02/2016 - 22:33
    +1

    Don't think theres going to be any massive discounts. Probably send a lot of stock back to the manufacturer. It is sad though, another iconic Aussie brand gone.

      • [Deactivated] on 25/02/2016 - 22:53
        +6

        you know nothing about anything then, it was once a great cheap place to buy electronics and kits and stuff. They haven't sold that stuff for a very long time, but Dick Smith stores used to be great places with very knowledgeable staff before they decided to dump that business model and focus on selling high priced crap

        similar to Jaycar. Although I doubt you even were old enough to shop in Dick Smith stores when it was that way.

        • GameChanger on 25/02/2016 - 22:59
          -8

          Guess what? We're in 2016 and what matters is their recent history.

          The last 15 years their business model was like any other retailer, nothing Australian about them apart from their name.

        • Duff5000 on 25/02/2016 - 23:26
          +4

          @GameChanger:

          Yes it is 2016 so why did you liken Dick to Jerry? Dick Smith hasn't had anything to do with the business in years (decades?)

        • Duff5000 on 25/02/2016 - 23:51
          +3

          @GameChanger:

          Because Dick Smith the man acts like he is for he Australian people when in reality he would have run the stores the same

          Well that just sounds like wild speculation….

        • GameChanger on 25/02/2016 - 23:52
          -2

          @Duff5000: Nope its called business…

        • djmatt24 on 26/02/2016 - 00:28
          +4

          @GameChanger:
          So totally wrong. You only need to watch one program about the man, read one article on him or his business he still runs (Dick Smith Foods) to know he's a bloody decent guy.

        • GameChanger on 26/02/2016 - 00:49
          -3

          @djmatt24: I have read about him he lives in a world that isn't reality. Formally known as arm chair critics.

        • Joshman5k on 26/02/2016 - 10:11
          +1

          @GameChanger: Who is the arm chair critic?

        • jdr on 26/02/2016 - 13:19
          +1

          @GameChanger:

          "Guess what? We're in 2016 and what matters is their recent history."

          I don't disagree with that. Dick Smith sold to Woolworths 34 years ago in 1982. Woolworths had it for 30 years until they sold in 2012 to the parasites from Anchorage Capital Partners who set it up to crash (while making their own fortune from it).

          For you to be making reference to how Dick Smith (the man) ran the company when he hasn't owned nor run it for 34 years, is just ludicrous. It was Woolworths who took the company away from its roots and moved more towards consumer products (not just electronics, I even saw things like water bottles).

          Makoto is right, your comments here about Dick Smith and the history are both clueless and stupid.

        • GameChanger on 26/02/2016 - 13:20
          -1

          @jdr: Then why does Dick Smith feel the need to always comment when the guy sold out the first sign of big $$$?

        • jdr on 26/02/2016 - 13:35
          +1

          @GameChanger:

          "Then why does Dick Smith feel the need to always comment when the guy sold out the first sign of big $$$?"

          Probably because he keeps getting asked about it because his name is still on the signs. Probably he still feels an attachment to a company that he started and still has his name on the signs.

          What's your reference that he sold out at "the first sign of big $$$"? He had the business from 1968 (originally car radio sales/installation) to 1982 and grew it to about 20 stores before selling a share to Woolworths in 1980 (and then the remainder in 1982). So he operated the business for 24 years.

          You still have no clue what you are talking about.

        • GameChanger on 26/02/2016 - 13:39

          @jdr: And you're the customer base that has kept this business alive for so long.

        • jdr on 26/02/2016 - 13:44
          +1

          @GameChanger:

          "And you're the customer base that has kept this business alive for so long."

          You have no idea if I am a customer or not in recent times. I certainly used to be one before Woolworths bought it.

          Now you're just sounding like a troll so that's the end of this.

        • GameChanger on 26/02/2016 - 13:46
          -1

          @jdr: Why are you living the past? What matters is the present and that been the last 15 years.

  • GameChanger on 25/02/2016 - 22:47
    +1

    The only bad thing apart Dick going down is the 3000 people out of work.

  • s26f84 on 25/02/2016 - 23:13

    It used to be good employer when I worked for them in early 2000s. Sad to see it go!

  • neil on 25/02/2016 - 23:29
    +17

    I got some info about tomorrow's sale from our usual DSE source:

    Letter to Managers page 1
    Letter to Managers page 2

    New pricing will be live in the morning that applies % off the majority of products accross each store with an estimated discount between 20% and 40% off. Some exception products and brands will have a lesser discount and in some instances products such as warranties and iTunes will have no discount applied.

    So prices should be uniform all over the country. No store specific discounts. My guess is that they will start at 20-40% off and then push further until the 8 weeks are up.

    • 4892 on 25/02/2016 - 23:46
      +1

      Thanks Neil. Saves me trying to bargain a better price. I feel for the employees though who were already getting abused today for not being able to discount like before.

    • pointless martyr on 26/02/2016 - 03:32
      +1

      Thanks for the pics…interesting to see the inner workings of something like this….wonder if the managers even care any more - most would have had at least one foot out the door since november i reckon!

    • neil on 26/02/2016 - 08:26
      +1

      From our NZ site where the stores have already opened:

      5000+ price changes overnight.

      No amazing deals as of yet, most of them are 20% off, phones are 20% off with 5% off iPhones.

      10% off TVs, 30% off phone cases and looks like 20% off laptops etc.

      and

      GoPro 4 $500
      Kindle Touch $100
      Kindle paperwhite $179
      Kindle Paperwhite + 3G $200

      All of these are lowest on PriceSpy and the GoPro is by $80-$100. All GoPros are marked down.

      So obviously the prices will be different to NZ but expect Go Pros and Kindles in that 20-40% off range.

    • Frig on 26/02/2016 - 08:28
      +1

      "There will be no markdowns of any sort outside the system pricing"

      Does that mean no haggling?

      • Frig on 26/02/2016 - 08:51
        +2

        Sorry, fairly new to this. Does -2 think my comment is wrong?

        • franco cozzo on 26/02/2016 - 11:25
          +2

          you can get negged for anything around here….sometimes it makes no sense. dont worry about it
          i gave you a + to compensate… ;)

  • ninetyNineCents on 26/02/2016 - 00:57
    -2

    How much value could there be locked up in dick smith gift cards ?

    Surely it's not that big a figure? They will lose more by dishonouring gift cards from lost potential customers who don't trust them at all.

    • 4892 on 26/02/2016 - 01:00

      Huh? Dick Smith is done. They don't need trust or general potential customers. Sadly those gift cards are the lowest priority.

      • ninetyNineCents on 26/02/2016 - 01:02
        -1

        They do if they want to sell their remaining stuff…

  • unity1 on 26/02/2016 - 07:04
    +2

    Good price on PS4 if you can find stock http://www.dicksmith.com.au/playstation-4/sony-ps4-1tb-conso…. Controllers are $63.98

    Apple products look like they are 5% off.

    • PainToad on 26/02/2016 - 07:33
      +2

      If that's their fire sale prices, no wonder etc etc.

    • [Deactivated] on 26/02/2016 - 08:30

      even during sales the website always listed consoles at like 500+ bucks when everywhere else was selling for 350-400.

      strange business model

      • mikezillakind on 26/02/2016 - 09:29

        and yet there ebay store would compete or sell products to other sites and then compete with them

  • unity1 on 26/02/2016 - 08:25

    Can anyone comment on the Oppo F1, which is currently 20% off http://www.dicksmith.com.au/oppo-f1-gold-unlocked-dsau-em539…

  • dealhunting007 on 26/02/2016 - 08:27

    Prices will be slashed in most cases between 20-40%, with some items reduced drastically more. Products will receive further discounts as the sale continues.

    The Dick Smith staff discount has been removed for all employees.

  • cooperdog on 26/02/2016 - 08:28

    Not expecting crazy prices this time, this is being managed by professional receivers who know how to maximise their return so minimum discount on iPads and popular stuff and a steady increase in discount on others until it is sold.

    Probably a few bargains in there, but no $50 TVs,

    Hopefully I may be wrong, still be down my local DSE a few times until closed I expect.

  • Bren20 on 26/02/2016 - 08:50
    +1

    What does this mean for warranties? 10% off a TV isn't great if it doesn't come with a warranty

    • DarkOz on 26/02/2016 - 09:06
      +1

      Unless it's 30% - 40% off it's not worth it. The TV I am looking for costs 20% more than Harvey Norman. For me to take the risk it needs to beat it by another 10 - 20%.

    • Gristy on 26/02/2016 - 09:07

      unless its a dse branded product then you should be ok with the manufacturer.

  • aurotaro on 26/02/2016 - 09:02
    +3

    Lucky Dick, pulled out at the right time. Not everyone gets that lucky.

    • DarkOz on 26/02/2016 - 09:09
      +2

      Wife and child maintenance would send anyone not named James Packer broke.

    • [Deactivated] on 26/02/2016 - 09:24

      so 40 years ago was 'the right time'? so why did woolworths buy it if it was the wrong time?

    • badwolfpart2 on 26/02/2016 - 10:38
      +6

      he pulled out in 1982 when he sold the group to Woolworths, who later sold the group. Hindsight is 20/20 but he couldn't have predicted it would go down this road because he wasn't aware of the business plans 2000s, which set the stage for what's happening now.

      • badwolfpart2 on 26/02/2016 - 11:13
        +2

        Not sure why I got downvoted, but it appears people here have trouble with facts. You poor things.

        • DrStinge on 26/02/2016 - 17:46
          +2

          I, for now, have restored balance to the universe.

  • hmak1980 on 26/02/2016 - 09:12
    +2

    Just came out of the George St store and it was utterly disappointing.

    • bargainsniper on 26/02/2016 - 09:12

      Lots of people?

      • hmak1980 on 26/02/2016 - 10:45
        +3

        About 40 or so grown up men (including myself). Lots of sad faces.

  • Noonoo on 26/02/2016 - 09:16
    +2

    I would think to hold off
    With the projection of 8 weeks is plenty of time for the clamor to sell of as much stock as possible in the last weeks

  • mikezillakind on 26/02/2016 - 09:33

    in other words almost everything wont be worth buying , and i doubt there will be much in the way of gaming since the shelves are stripped bare, my local store is probably the most useless store iv ever been to !

  • cooni on 26/02/2016 - 09:33
    +1

    Was told at Parramatta that prices aren't moving until 10:30 and the staff don't know what's going on until then
    (Presumably after the conference call)

    Currently same "promotions" as yesterday.

  • Stache on 26/02/2016 - 09:37

    Local store here in Forster have no sign of a sale other than the already running "Tech-Rific Deals". Small town though and with losing there jobs I'm sure there is no rush for them to get the sales started. (only just having read the letter I guess we wait till after 10 like has been mentioned)

  • ozziedude on 26/02/2016 - 10:08

    Blacktown, sydney staff doesn't know either .. Drinking my 3rd cappuccino .. Waiting .. Sigh

  • neil on 26/02/2016 - 10:10
    +5

    OK here are the 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%

    • abc on 26/02/2016 - 10:13
      +4

      Very tame discounts.

      And given that they will hardly have stock of Apple products & cameras and NO STOCK of Gaming those headlines are just a "bait and switch" to get you in the store.

      • badwolfpart2 on 26/02/2016 - 10:39
        +1

        tame discounts because it's a controlled exit designed to maximise whatever money they can. The real firesale will be in a few weeks time.

  • Flyerone on 26/02/2016 - 10:17

    Seven Hills store, no discounts other than this weeks promo's, one sad staff member, only a couple of the store lights on. I only went in after a 1750AC router seeing as though they turned the NBN on here a few days ago.

  • Joshman5k on 26/02/2016 - 10:17
    +1

    A history lesson in liquidator sales. http://www.smh.com.au/business/wow-bargain-hunters-get-a-rud…

  • cooni on 26/02/2016 - 10:33
    +20

    http://i.imgur.com/3YzcUIH.png

    All I could manage was this sneaky photo whilst a staff member writes discount signs.
    The BI information seems accurate.

    • fatboyj on 26/02/2016 - 10:38

      Good 007 job Cooni. I'm popping down after lunch, mingle with the other ozbargainers sniffing out bargains, ask pertinent warranty questions and attmept 007 photos too.

    • itr on 26/02/2016 - 11:03

      nice good work

  • immo on 26/02/2016 - 12:31
    -7

    So yesterday I put a particular Ipad Keyboard case thingo i need for uni on hold, the guy on the phone was just like yea call up and see if it’s on sale otherwise put it on hold again. Today I called up to see if it's on sale and some other dude was like yea you have to come in store to see prices. WTF i have to travel 40 minutes to see if an item is on sale or not?

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