Dick Smith Takes A Bath, Comes Out Nice and Clean

The Financial Review reported today that, prior to Christmas, consumer electronics chain Dick Smith is likely to be listed on the stockmarket  for $550 to $620 million. Something is wrong here. Anchorage Capital purchased Dick Smith for $20m less than a year ago. They can’t have done much to turn around the business; they’ll have barely met their management team. Either Woolworths should be embarrassed at selling Dick Smith’s for an absolute pittance or investors are about to find they have purchased a dressed-up lemon. Or perhaps a bit of both. The oldest trick in the retail-turnaround book is to...

The Financial Review reported today that, prior to Christmas, consumer electronics chain Dick Smith is likely to be listed on the stockmarket  for $550 to $620 million.

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