Receivers of collapsed consumer electronics retailer Dick Smith are hoping to attract interest from cashed-up Asian buyers in an attempt to maximise returns to creditors owed AUD400 million (USD278.6m).
Ferrier Hodgson has advertised the sale of Dick Smith in Asian newspapers, including the Asian Wall Street Journal, in a bid to lure major consumer electronics retailers such as Gome, Suning and Yamada and electronics suppliers seeking to establish a retail footprint in Australia.
Industry sources believe that the sale of Dick Smith at a bargain basement price may lure major Asian consumer electronics retailers who do not yet have a bricks and mortar presence or distribution network in Australia.