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Appointment details

Appointment type Receivership
Appointment date 4 January 2016
Appointees James Stewart, Ryan Eagle
Companies subject to Administration Dick Smith Sub-Holding Pty Ltd ACN 160 162 925
DSE Holdings Pty Limited ACN 001 456 720
Dick Smith Electronics Pty Limited ACN 000 908 716
Dick Smith (Wholesale) Pty Ltd
 ACN 000 445 956
InterTan Australia Pty Ltd ACN 002 511 944
Dick Smith Electronics Franchising Pty Ltd ACN 054 295 733
Dick Smith Management Pty Ltd ACN 001 585 735
DSE (NZ) Limited CN 372602
Office Sydney
Technology network cables

KPMG contact

Elesa Frangieh-Nencioni
elesafn@kpmg.com.au
+61 2 9455 9160

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Background information

Ferrier Hodgson partners James Stewart, Jim Sarantinos and Ryan Eagle were appointed Receivers and Managers over DSH and a number of associated entities (listed below) on 4 January 2016. The appointment was made by a syndicate of lenders which hold security over the Group.

The businesses will continue to operate as usual while the Receivers look at the restructuring and realisation opportunities for the Group.

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Company details

Dick Smith Holdings Ltd ACN 166 237 841 was placed in receivership on 4 January 2016 following the appointment of Voluntary Administrators.

Dick Smith is one of the best known brands associated with consumer electronics in Australia and New Zealand.

DSH operates 393 stores across Australia and New Zealand under four brands, Dick Smith, Electronics powered by Dick Smith, Move and Move by Dick Smith.

There are 3,300 employees and annual sales of approximately $1.3 billion.

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ASIC insolvency material

The Australian Securities & Investments Commission provides resources on insolvency for directors, practitioners, employees, creditors and investors.

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Support

Coping with the emotional impact of financial distress.

Beyond Blue

beyondblue offers some useful resources for people struggling with the emotional impact of financial distress.

The beyondblue Support Service provides confidential, one-on-one counselling with a trained mental health professional.
Phone: 1300 22 4636

Lifeline

Lifeline offers phone crisis counselling for people who are experiencing financial and emotional hardship.

Phone: 13 11 14 Australia-wide
Online crisis support chat (7:00pm to 4:00am daily)

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