{"id":90653,"date":"1999-12-31T00:31:00","date_gmt":"1999-12-30T13:31:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/ceo-nick-abboud-quits-dick-smith\/"},"modified":"1999-12-31T00:31:00","modified_gmt":"1999-12-30T13:31:00","slug":"ceo-nick-abboud-quits-dick-smith","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/ceo-nick-abboud-quits-dick-smith\/","title":{"rendered":"CEO Nick Abboud Quits Dick Smith"},"content":{"rendered":"

Dick Smith CEO Nick Abboud has stepped down from his role at the struggling electronics retailer a week after it was placed into receivership, effective immediately.Receiver Ferrier Hodgson has announced that Don Grover, former Retail Fusion Brands CEO, has been appointed as interim CEO.<\/p>\n

Grover has more than 30 years’ experience in the retail sector, having also held the CEO role at Dymocks, along with various operational roles at David Jones.<\/p>\n

The resignation of Abboud, the Dick Smith CEO since 2012, follows the ongoing fallout from the retailer’s collapse, with the impact being felt throughout the consumer electronics industry<\/a>.<\/p>\n

Ferrier Hodgson has today launched advertisements online and across major publications in Australia and New Zealand seeking expressions of interest for the sale of the Dick Smith and Move businesses.<\/p>\n

Ferrier Hodgson states there has been over 40 initial expressions of interest from various parties prior to the commencement of the advertising campaign. <\/p>\n

Further expressions of interest are being sought by or on January 27, while once the non-binding expressions of interest have been assessed, a short list of parties will be developed, who will be invited to commence initial due diligence and then submit formal offers.<\/p>\n

The process is expected to continue well into February.<\/p>\n

Dick Smith’s secured creditors are owed approximately $140 million and its unsecured creditors approximately $250 million.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

Dick Smith CEO Nick Abboud has stepped down from his role at the struggling electronics retailer a week after it was placed into receivership, effective immediately.<\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,179],"tags":[],"class_list":["post-90653","post","type-post","status-publish","format-gallery","hentry","category-archive","category-retail","post_format-post-format-gallery"],"yoast_head":"\nCEO Nick Abboud Quits Dick Smith - Smart Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/ceo-nick-abboud-quits-dick-smith\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CEO Nick Abboud Quits Dick Smith - 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