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If Dick Smith go into liquidation will they still honour gift cards in their shop fronts?
Should I spend them now or try and get a 'closing down' bargain in a couple of months time?
Dick Smith Gift Cards - If Going Into Liquidation
thepigs on 04/01/2016 - 16:40
Last edited 08/01/2016 - 18:47 by 2 other users
Last edited 08/01/2016 - 18:47 by 2 other users
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Dick Smith receivers say gift vouchers and deposits will not be honoured
http://www.abc.net.au/news/2016-01-05/dick-smith-receivers-v…
Spend them now and don't look back. Go to a store, do not buy online.
They could useless by tomorrow morning already.
From The Australian this evening
Dick Smith’s two-year life as a listed public company came to an abrupt end tonight with the banks appointing a receiver to the company and the company a voluntary administrator.
James Stewart from Ferrier Hodgson was appointed by the banks as the receiver and McGrath Nichol will act as administrator for the company.
The appointments are expected to be formally confirmed tomorrow morning by the company.
NAB and HSBC as main bankers appointed the receiver and company chair Ron Murray appointed the voluntary administrator.
The company will now be formally wound up in a process aimed at maximising returns for the banks.If you have a lot of money tied to giftcards, go there first thing and make your purchase. It may take some time for the announcement to make its way to the shop floor and the backend of IT so you may be OK.
If you have gift cards… USE THEM!
If the company is wound up you would have to list yourself as a creditor to try and get your money back, but most likely you won't.In a statement this morning, Stewart said it will be “business as usual” for Dick Smith’s 393 retail stores in Australia and New Zealand but Dick Smith will not be honouring any outstanding gift vouchers or refunding customer deposits “due to the financial circumstances of the group”.
He said affected customers will become unsecured creditors of the company.
just got off the phone with them the vouchers are useless they are refusing to accept them.
they did advise they will be finding out a 'refund process' later this arvo
pretty piss poor effort there dick
DAMN I was too slow (couldnt find anything to buy…)! thanks for the advice though. Does anyone know how I can register myself as an unsecured creditor?
Dick has totally screwed everyone by cashing in on the xmas gift card deals and not honouring them. Well done Dick!
Ask your banks for charge back and if you have paid with cc, you could try to ask your cc company to get a refund . Here is link for it : http://www.afr.com/business/retail/customers-with-dick-smith…
Also, a gift card app company probably able to help honour your gift card
http://www.smartcompany.com.au/finance/49440-gift-card-app-a…
I am sure you are trying to be helpful but read your second link because your wording is misleading due to omission - there's no point giving people false hope :-(
It's already been discussed in numerous OzBargain threads including this thread dedicated to it, that the company is only honouring the gift cards purchased from them directly.
If you think about it logically it would be suicidal for their business to honour gift cards purchased from others such as Woolworths/Coles.
If Dick Smith go into liquidation will they still honour gift cards in their shop fronts?
Should I spend them now or try and get a 'closing down' bargain in a couple of months time?As we now have an answer to this (that gift cards are no longer being honoured), this thread is now closed. Please continue the discussion in the Dick Smith Enters Trading Halt (Voluntary Administration) thread.
Possibly, but probably not. You would be an unsecured creditor, and if history is a guide could expect to get perhaps 10% of the face value back.
DS is highly unlikely to close, I think, just wipe out their shareholders plus give their creditors a haircut, and close a few less profitable stores.
I wouldn't want to hold onto their gift cards at this point.