No Move for Harvey

Dick Smith Airport stores closed.

The four Dick Smith Move stores, located at Sydney Airport have closed after Harvey Norman decided not to proceed with a buyout.

Ferrier Hodgson, Dick Smith’s receiver for the collapsed electronics retailer, said on Friday it would close all four stores.

move store

“Unfortunately, we have been unable to reach an agreement to sell the Move Airport assets and have no option but to close the stores located at Sydney International Airport effective from today,” receiver James Stewart said.

There were about 48 employees at the stores who will now lose their jobs, adding to the 2,460 laid off staff across the country.

Earlier last week, Harvey had said that he was crunching the numbers on whether he can make the stores profitable, telling the media, “They turn over a lot but if they don’t make any money it’s not worth it.”

“Every time I’ve looked at an airport business I’ve always run away because the rents and overheads are horrendous. It’s not generally the sort of place I’d like to be, but you have to look.”

 

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