Dick Smith Holdings Limited
(ASX:DSH) says it has appointed Ferrier Hodgson partners James Stewart, Ryan Eagle and Jim Sarantinos as Receivers and Managers of Dick Smith Holdings and its subsidiaries.
This follows the appointment of Voluntary administrators yesterday after below expectation sales and cash generation in December and below par second quarter performance.
The company will continue to trade as normal as the receivers and managers assess the business and offer it for sale. Staff will continue to be paid however it has said it will not honour customer deposits on goods or gift vouchers.
Dick Smith recorded a net profit of $37.9 million in the 2015 financial year.
