Dick Smith in store decline

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meow
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#1499262 25-Feb-2016 17:16

Feel bad for the staff. Some of the salespeople are actually great to deal with but honestly saw this coming.

There was no way the reviewers would have found a "suitable offer" for a tainted brand.

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gished

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#1499263 25-Feb-2016 17:16

wellygary:

All over rover, time to buy anything you want before it sails off into the history of retailing

I'm in the market for $45 2mtr HDMI cables.

nakedmolerat

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#1499266 25-Feb-2016 17:19

DSE has now closed for good.

RIP DSE.

Thoughts to all employees out there.

ajobbins

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#1499267 25-Feb-2016 17:19

I just hope now they can have a real liquidation sale and pick up something for an actual bargain, unlike their "receivers sale" which had items on "sale" at higher than other retailers normal prices, and in some cases above RRP and had the ACCC looking at them.

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Dunnersfella

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#1499268 25-Feb-2016 17:22

A real liquidation sale?

Won't the staff just buy all the deals prior to the doors opening? There'd be no repercussions for them personally...

mattwnz

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#1499271 25-Feb-2016 17:27

It was a slow car crash. Just the question is whether stock will now be sold at clearance rates or not.

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gzt

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#1499272 25-Feb-2016 17:31

gzt: NZ Herald:

"receiver James Stewart said. "The offers were either significantly below liquidation values or highly conditional or both."

Below liquidation value? Is there a stash of 56k modems we didnt know about? :: p

33coupe: If they based their stock on $35 HDMI cables etc, then yeah offers would be below the so called liquidation value.

Yeah but for goodness sake what do they possibly have that would not cost money to get rid of?

Is there a massive stash of 55" UHD TVs or something? I mean really?

richms

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#1499285 25-Feb-2016 17:54

gzt:
Is there a massive stash of 55" UHD TVs or something? I mean really?

Was quite a few in glenfield when I had a look. $1200ish but the guy couldnt tell me if it had hdmi2.0 or not.

Richard rich.ms

andrew027

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#1499303 25-Feb-2016 18:09

I feel sorry for staff, who have generally tried to be helpful (except the guy in the Takapuna store who was about as unhelpful as it's possible to be). But really, Dick Smith's business model had become pretty unsustainable and I don't see how Any organisation would be interested in buying out a brand with poor range, poor quality, no real identity, and no point of difference.

Finch

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#1499333 25-Feb-2016 18:29

Even if there are no for sale signs up, it might be worth even popping into the stores and finding something you want and offering something for it. Even if its a low ball offer, the staff might be likely to say yes, even its way below cost. Whats the worst that can happen? Lose their job?

Not having a dig at the staff, just didn't know how to word it.

Jaxson

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#1499392 25-Feb-2016 20:01

There was no hope for the new owners, once they worked out the true financial situation vs the price they'd paid for it.
The business deal that occurred prior was close to fraud, but considered perfectly normal business procedure.

This impacts on suppliers and reps beyond the direct staff...

Maybe a laptop etc for a good price. Truth is they now have very little I'd actually want in stock.

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richms

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#1499394 25-Feb-2016 20:02

I want to pick up some of the fancy looking cables if they go on sale. .

Richard rich.ms

blakamin

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#1499407 25-Feb-2016 20:24

Jaxson: There was no hope for the new owners...

Which new owners? The investment company that bought them off Woolworths?

They were the dodgy ones.

Jaxson

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#1499458 25-Feb-2016 22:36

blakamin:
Jaxson: There was no hope for the new owners...

Which new owners? The investment company that bought them off Woolworths?

They were the dodgy ones.

Yeah meaning the current ones, who came in after the investment company had stripped it bare.

amiga500

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#1499466 25-Feb-2016 23:22

Well, the good news for the staff is that they will get their redundancy payments which will mean a lot for the longer serving guys.

Some small companies and builders go bust and there is no money for the employees at all.

Getting back to the surfeit of cables in their stores. I think their buyers got that very wrong. Take mini usb cables as an example. Many people have one or two of these

at home left over from a dead camera or something. Same goes for HDMI cables. I know I am just about driven crazy by the number of mini and micro usb cables I have coiled up

near my gadget power point. I can't imagine me needing to buy any sort of cable any time soon and I guess that many people are the same. Let's say a person buys a new phone because their old one has a weak

battery. They don't want to risk their trademe feedback reputation by selling the phone, so they throw out their old phone but keep the cable.

But Dick Smith seems to think that people consume cables like they are frigging weetbix!

And USB hubs is another 'sunset' type product now that most people have laptops. But poor old Dick Smith seemed to think that we are all using mid tower computers with no convenient ports on the front.

Just two examples. Anyway look out for the big sale (if any) and be nice to the guys working at the DSE shops.

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