The Distillery: Dick Smith's new dawn

Jotters marvel at Dick Smith's quick return to the market so soon, while one says broader business optimism is misguided.

When Anchorage Capital Partners bought a beaten-down Dick Smith from Woolworths last November, nobody guessed the private equity firm would bring a strengthened electronics retailer back to the market in less than a year. The surprise news that Anchorage is already considering floating the business has one scribe suspicious about the reported turnaround, while another defends Woolworths for relinquishing control in the first place.

At the Australian Financial Review, Sue Mitchell is astonished at Dick Smith's comeback – and at Woolworth's inability to see the opportunity.


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