The news just keeps getting worse for beleaguered retailer Dick Smith

Not only is it likely creditors will have to wait a bit longer as find out the company’s future but it will also close its national network of outlets located in 27 David Jones department stores.

At a creditors meeting held last week administrators, McGrathNicol indicated that it might have to defer a second creditors meeting scheduled for February until August 2. It is understood that the delay would give the administrators more time to investigate creditors’ claims and a similar application will be made for the New Zealand operations.

In a statement from receivers Ferrier Hodgson the  ‘Powered by Dick Smith’ concession stores will close with the loss of 181 jobs on January 27, 2016. Interestingly, the receivers said Dick Smith was trying to “identify opportunities for future employment for as many of the affected staff as possible, mostly part-time and casual, through the Dick Smith network.”

 

 

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Australia’s oldest electronics retailer was placed into voluntary receivership in January leaving nearly $400 million owing to creditors that include the National Australia Bank, HSBC and the Macquarie Group.

Interested buyers have until January 27 to make an offer of acquisition.