{"id":90673,"date":"1999-12-31T00:17:00","date_gmt":"1999-12-30T13:17:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/dick-smith-receiver-sale-described-as-one-big-con\/"},"modified":"1999-12-31T00:17:00","modified_gmt":"1999-12-30T13:17:00","slug":"dick-smith-receiver-sale-described-as-one-big-con","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/dick-smith-receiver-sale-described-as-one-big-con\/","title":{"rendered":"Dick Smith Receiver Sale Described As One Big “Con”."},"content":{"rendered":"

The Dick Smith receivers, Ferrier Hodgson are believed to be under investigation by the Australian Competition and Consumer Commission (ACCC) over their so called ‘Receivers Sale’.<\/p>\n

According to sources complaints have been lodged with the<\/p>\n

ACCC concerning the discounts being offered.<\/span><\/p>\n

An Investigation by ChannelNews and SmartHouse reveals that<\/p>\n

several branded goods such as LG and Samsung TV’s are significantly more<\/p>\n

expensive at Dick Smith stores than at Harvey Norman, JB Hi Fi or Bing Lee<\/p>\n

stores.<\/p>\n

A Samsung 60″ TV model number UA60J6200 is being marked<\/p>\n

up at Dick Smith stores in Chadstone, Victoria at $1,819.<\/p>\n

The same TV is selling for $134 cheaper at Harvey Norman. To<\/p>\n

further seduce consumers into buying this model the Dick Smith receivers are<\/p>\n

offering ‘Receiver Sale’ saving of $230.<\/p>\n\n\n\n
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Harvey Norman is not offering any sale discounts.<\/p>\n

An LG 60″ Smart TV 60LF6300 is ranged in the Dick Smith<\/p>\n

receiver sale at $1,899, the same TV is being sold for $1,679 a saving of $220.<\/p>\n

Ironically Dick Smith claims that consumers are saving $600<\/p>\n

by buying this TV from their stores.<\/p>\n

In both the PC wearable and accessories categories goods are<\/p>\n

more expensive at Dick Smith stores than at other consumer electronics stores.<\/p>\n

A sales assistant at one major Victorian store said.<\/p>\n

“Consumers are coming into the store believing that there are bargains<\/p>\n

because we have been placed under administration, when they check on their<\/p>\n

smartphones, what price the same goods are selling for in other stores they<\/p>\n

leave. There really is no sale, it’s all one big con”.<\/p>\n

A Chadstone staff member said “Things were cheaper when<\/p>\n

Dick Smith was running the stores. As soon as the receivers moved in we were<\/p>\n

told to jack up prices. I suppose the banks want to get their money as quick as<\/p>\n

they can. It’s not looking good”.<\/p>\n

Earlier this week Ferrier Hodgson moved to close 27 Dick<\/p>\n

Smith concessions stores at David Jones stores throughout Australia.<\/p>\n

At one concession store in Victoria a Manager said<\/p>\n

“Dick Smith at David Jones has never worked. In some cases, prices were<\/p>\n

higher in a concession store than at a regular Dick Smith stores. Woolworths<\/p>\n

was going to dump Dick Smith anyway prior to the Company being placed into<\/p>\n

administration.<\/p>\n

The Electronics Powered by Dick Smith outlets within David<\/p>\n

Jones employ two full-time employees, 78 part-time workers, and 101 casual<\/p>\n

staffers.<\/p>\n

In other moves Ferrier Hodgson has moved to advertising the<\/p>\n

Dick Smith stores in Asia.<\/p>\n

Back in November when we identified that Dick Smith stores<\/p>\n

were struggling a potential buyer from Hong Kong approached ChannelNews to obtain<\/p>\n

information about the stores.<\/p>\n

They said at the time that doubted that there was any<\/p>\n

“value” left in Dick Smith stores.<\/p>\n

According to sources still working at the mass retailer all<\/p>\n

of the management associated with Nick Aboud have “gone”.<\/p>\n

“The receivers have already drawn up a plan to mass<\/p>\n

close stores, during the past weeks they have bought operational costs under<\/p>\n

control” they said.<\/p>\n

Ferrier Hodgson retail partner James Stewart “We don’t<\/p>\n

want to leave any stone unturned,” said Ferrier Hodgson retail partner<\/p>\n

James Stewart, who took control of Dick Smith’s 393 stores at the behest of<\/p>\n

lenders on January 5 after the company appointed McGrathNicol administrators.<\/p>\n

“Most of the world’s consumer electronics retailers are<\/p>\n

supplied through Asian markets.  We want<\/p>\n

to make sure we give everyone an opportunity,” Mr Stewart said.<\/p>\n

Ferrier Hodgson claim that they have has received at last 50<\/p>\n

expressions of interest for Dick Smith’s assets but according to sources, most<\/p>\n

were organisations who took copies of the offer document which contained<\/p>\n

historical sales data, store locations a detailed 70-page information<\/p>\n

memorandum to selected parties.<\/p>\n

The deadline for non-binding expressions of interest closing<\/p>\n

today Wednesday 27th of January.<\/p>\n

The receivers claim that they have already commenced<\/p>\n

discussions with a core group of serious buyers and will draw up a formal short<\/p>\n

list after the offer deadline closes this week.<\/p>\n

Mr Stewart told Fairfax Media that he welcomed the decision<\/p>\n

by the administrator, McGrathNicol, to seek to postpone the second meeting of<\/p>\n

Dick Smith’s creditors until August, saying it would give the receivers more<\/p>\n

time to complete asset sales and liaise with landlords.<\/o_p><\/p>\n","protected":false},"excerpt":{"rendered":"

The Dick Smith receivers, Ferrier Hodgson are believed to be under investigation by the Australian Competition and Consumer Commission (ACCC) over their so called ‘Receivers Sale’.<\/p>\n","protected":false},"author":42,"featured_media":91429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,179],"tags":[],"class_list":["post-90673","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-archive","category-retail","post_format-post-format-gallery"],"yoast_head":"\nDick Smith Receiver Sale Described As One Big "Con". - 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\/dick-smith-receiver-sale-described-as-one-big-con\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dick Smith Receiver Sale Described As One Big "Con". - 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