Smiths City - will it be the next 'Dick Smith'?

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#3410926 3-Sep-2025 21:47

Out of curiosity, I wondered who runs the extended warranties for Smiths City. It's The Warranty Group (TWG), which is actually the same one we used at Dick Smith. Assuming nothing has changed in that area over the years, that should mean any extended warranties will be fine, even if Smiths City as a company is gone.

In the case of Dick Smith, replacements and gift vouchers for extended warranty pay outs were through JB Hi-Fi, which must have used TWG as well.

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k1w1k1d

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#3410927 3-Sep-2025 21:52

I wonder if we will see an increase in prospective customers not wanting to put a deposit down on expensive items or services?

Perhaps shops etc may have to have trust accounts to protect customer deposits until the goods are delivered.

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#3410928 3-Sep-2025 21:57

lxsw20:

Yeap, hence waiting until they possibly reopen :D

Yep - wouldn’t be holding my breath for that.

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lxsw20

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#3410929 3-Sep-2025 21:58

Nope, its what the administrator is saying, but I am not counting on it.

lxsw20

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#3411032 4-Sep-2025 11:16

Couch was delivered just now, the delivery guy said he's been working all week as normal. That's a 3k relief.

quickymart

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#3411325 4-Sep-2025 20:48

lxsw20:

Couch was delivered just now, the delivery guy said he's been working all week as normal. That's a 3k relief.

Good news, bet you're relieved. As an aside my Mum drove past the Greymouth one today and said it was empty. I asked if she meant of customers, she said no, it was totally cleared out and the building was vacant.

Are any of the others the same, or do they still have stock, etc behind the doors?

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quickymart

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#3411327 4-Sep-2025 20:56

mattwnz:

I recall something similar happened in the 1990s and it retreated back into the South Island. But the current retail failures have a lot to do with the reserve bank increasing interest rates to reduce inflation by reducing peoples disposable income. They warned this would happen and there was going to be some hurt.

I was unaware they had gone into receivership as early as that, but it looks like it's happened to them a couple of times now:

https://www.nbr.co.nz/retail/smiths-city-placed-into-voluntary-administration/ (paywalled)

From the headline:

k1w1k1d

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#3411335 4-Sep-2025 21:32

I see Kathmandu are closing 21 shops, so hope they are not next.

(Edit - spelling correction)

trig42

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#3411411 5-Sep-2025 07:48

k1w1k1d:

I see Kathmandu are closing 21 shops, so hope they are not next.

(Edit - spelling correction)

Saw that - I don't think it's 21 NZ stores (though I'm sure some could be on the chopping block). The article I read said it was 21 of their over 300 sites worldwide - I'm guessing quite a few in Australia?

MaxineN

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#3411413 5-Sep-2025 07:55

lxsw20:

Couch was delivered just now, the delivery guy said he's been working all week as normal. That's a 3k relief.

Would hope he's also still being paid.

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#3411695 5-Sep-2025 18:47

https://www.nzherald.co.nz/nz/kitchen-things-stores-reopen-clearance-sale-amid-receivership/SKCAFNJWAVDRHO7RU4FS3D4VOU/

Smiths City stores in Auckland and Christchurch opened for sales this afternoon, with more than 21,000 items “at significantly reduced prices”.

A further five stores in Greymouth, Oamaru, Alexandra, Gore and Invercargill begin sales tomorrow.

The sale is running for a limited time until stocks last, Smiths City administrators from BDO Christchurch said.

If you've got a Smiths City near you, might want to head in and see if you can bag a bargain.

Their website has also been updated with a statement (in part repeated by the Herald):

Smiths City (2020) Limited ("Smiths City" or "the Company") was placed in Voluntary Administration as of 8:30a.m., Tuesday 2 September, 2025. The Company's director appointed Colin Gower, Licensed Insolvency Practitioner and Diana Matchett, Chartered Accountant and Licensed Insolvency Practitioner, both of BDO Christchurch, as Joint and Several Administrators ("the Administrators").

All nine Smiths City stores and the online shop have been temporarily closed, while the Administrators undertook an urgent assessment of the Company's financial position, and a stocktake across the stores. This assessment and stocktake were completed today.

Customers who have paid deposits have been contacted directly by the Administrators, with the majority receiving specific information regarding their orders. Some remaining customers will be contacted again in the coming days.

Eight of the nine Smiths City stores will reopen for a liquidation sale. The stores in Auckland and Christchurch reopened this afternoon, and the stores in Greymouth, Oamaru, Alexandra, Gore and Invercargill will reopen tomorrow, Saturday 6 September, at 9:00a.m. The liquidation sale will run for a limited time only and while stocks last. The Dunedin store will remain closed.

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DjShadow

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#3414093 12-Sep-2025 11:35

Just had one of the "Final days of the sale" e-mails from them but can see at the bottom they are shutting all stores on Sunday.

quickymart

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#3414313 12-Sep-2025 20:34

https://www.stuff.co.nz/business/360822574/two-more-stores-close-smiths-city-prepares-wrap-final-sale

Can confirm the Greymouth store has closed down already.

quickymart

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#3419065 26-Sep-2025 22:41

https://archive.ph/RB1VM

Looks like it's the end of the line, Smiths City will most likely be placed into liquidation this week as they won't be bailed out again - certainly not by the guy who bought it in 2020, at least.

DjShadow

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#3419092 27-Sep-2025 08:01

Any idea what happens with Smiths City finance? I’m still paying off our lounge suite with them and half expecting a request from them to pay it off early

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