Dick Smith gooooooone?
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<a data-ipb='nomediaparse' href='http://i.stuff.co.nz/business/industries/75618531/Dick-Smith-customers-will-not-get-refund-on-gift-cards-and-deposits-receiver'>http://i.stuff.co.nz/business/industries/75618531/Dick-Smith-customers-will-not-get-refund-on-gift-cards-and-deposits-receiver</a><br><br>
Looks like the proverbial may be hitting the fan here as well... Side note - don't buy vouchers, give cash in a pretty envelope or card. -
Was reading Gerry Harvey from Harvey Norman putting the boot in , apparently brand name lines like DSE are a bad idea and customers see through them. I wouldn't buy a TV etc from a shop that had it's own name on it, as Godder says if you order enough of a product from a Chinese factory they'll put any name you want on it. <br><br>
<a data-ipb='nomediaparse' href='http://i.stuff.co.nz/business/75647248/The-anatomy-of-Dick-Smiths-decline'>http://i.stuff.co.nz/business/75647248/The-anatomy-of-Dick-Smiths-decline</a> -
<blockquote class="ipsBlockquote" data-author="Nepia" data-cid="550773" data-time="1451971220">
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<p>That one works - same link address. Weird. Maybe one of the IT nerds on here can explain to us what's happening there?</p>
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<p>Anyway just to explain, the original link didn't work because there is an extra space on the end of it.</p>
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<p>So yeah, the problem did appear to be in barbarian's chair.</p>
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<p>;)</p> -
You can probably make it work if they are cheap enough relative to the normal brands, particularly if you hammer the message that you stand behind the product, solid warranties, honour the Consumer Guarantees Act etc (the Warehouse strategy) but DSE weren't really doing any of that.<br><br>
Don't know about Oz, but the Warehouse buying Noel Leeming and Kmart repositioning as a cut-price retailer had to be a kick in the nuts for them here. Kmart don't do much in the way of consumer electronics any more, but what they do sell is really cheap, and now the Warehouse have access to quality brands which they sell at good prices (some solid sales especially), as well as revitalising Noel Leeming who were also struggling a bit. -
Warehouse didn't buy Kmart, sorry if that was how it read. Kmart totally revamped their stores and range, and went full on cheap stuff. They also largely got out of consumer electronics - now they only really sell cables, phone cases, cd player/radios, mini speakers etc. No-name brands, cheap prices. <br><br>
Smith's City also killed off the Powerstore brand - rebranded them all as Smith's City. -
<p>Kmart have moved downward in their pitch, partly due to market forces, but also because Wesfarmers have both Kmart and Target on the books.</p>
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<p>They've effectively positioned them either side of Big W here in Australia, with Target providing a similar range, better quality, and keener pricing than Big W. Kmart goes for the cheap bucks in the meantime.</p> -
Apparently the banks called for receivership now to maximise cash on hand after Christmas and New Year sales, including gift cards and vouchers which would have been purchased but not yet redeemed.<br><br>
I also read that directors may find themselves personally liable for gift cards because they must have known they were in trouble, yet didn't stop selling them. -
<blockquote class="ipsBlockquote" data-author="Godder" data-cid="551052" data-time="1452107477">
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<p>Apparently the banks called for receivership now to maximise cash on hand after Christmas and New Year sales, including gift cards and vouchers which would have been purchased but not yet redeemed.<br><br>
I also read that directors may find themselves personally liable for gift cards because they must have known they were in trouble, yet didn't stop selling them.</p>
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<p>That shit has to be illegal, selling gift card, vouchers and only offering store credit for returns when knowingly the receivers are about to come in.</p>
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<p>My younger brother works for Dick Smith, apparently was called into a meeting along with fellow staff yesterday. Have yet to hear the details of what was said.</p> -
<p>yeah they were saying on the news last night it was kind of an odd situation, they had to act like everything was normal and 'most' would have liked to think they could trade out of the shit, and to stop selling gift cards would have obviously alerted people to problems and then they'd of missed a lot of the Christmas cash as people would be worried about warranties etc.</p>
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<blockquote class="ipsBlockquote" data-author="Virgil" data-cid="551053" data-time="1452109053"><p>
That shit has to be illegal, selling gift card, vouchers and only offering store credit for returns when knowingly the receivers are about to come in.<br><br>
My younger brother works for Dick Smith, apparently was called into a meeting along with fellow staff yesterday. Have yet to hear the details of what was said.</p></blockquote>
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As I understand it, it's illegal for companies to knowingly take on liabilities that can't be repaid, which is basically what gift cards are (liabilities), so the directors could find themselves in hot water. -
<blockquote class="ipsBlockquote" data-author="NTA" data-cid="551030" data-time="1452080949">
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<p>Kmart have moved downward in their pitch, partly due to market forces, but also because Wesfarmers have both Kmart and Target on the books.</p>
<p> </p>
<p>They've effectively positioned them either side of Big W here in Australia, with Target providing a similar range, better quality, and keener pricing than Big W. Kmart goes for the cheap bucks in the meantime.</p>
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<p>Kmart are killing it in the decorating department. The missus and all her mates buy heaps of decorating shit from there, because apparently it's good, and cheap as fuck. </p> -
Just read that Dick Smiths was sold for 20 million and listed for 560 million. Firstly, who was stupid enough to buy that stock and secondly, isn't that borderline fraud?
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<blockquote class="ipsBlockquote" data-author="Rancid Schnitzel" data-cid="551223" data-time="1452140297">
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<p>Just read that Dick Smiths was sold for 20 million and listed for 560 million. Firstly, who was stupid enough to buy that stock and secondly, isn't that borderline fraud?</p>
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<p>It was originally sold to Woolworths for $20 million in 1982. The sale by Woolworths to Anchorage was for $112 million in Nov 2012. Not that it makes much difference to your general points!</p> -
<blockquote class="ipsBlockquote" data-author="Rancid Schnitzel" data-cid="551223" data-time="1452140297">
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<p>Just read that Dick Smiths was sold for 20 million and listed for 560 million. Firstly, who was stupid enough to buy that stock and secondly, isn't that borderline fraud?</p>
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<p>Only fraud if the info disclosed was untrue or info that had to be disclosed legally was not. Not seeing any of that here</p> -
<a data-ipb='nomediaparse' href='http://i.stuff.co.nz/business/industries/75742695/Buyers-line-up-for-Dick-Smith-before-sales-campaign-is-launched'>http://i.stuff.co.nz/business/industries/75742695/Buyers-line-up-for-Dick-Smith-before-sales-campaign-is-launched</a><br><br>
All may not yet be lost.
