Dick Smith... Was It Over Before It Was Over?
Junkers Zhou21 Jan 2016
From humble beginnings in the Sydney suburb of Artarmon, electronics retailer Dick Smith expanded to become a household name before ultimately failing to capitalise on an increasingly tech-savvy world. After enjoying 30 years of ownership under Woolworths, Dick Smith was sold to Australian investment firm Anchorage Capital Partners in September 2012 for $94 million. Initially floated in December with a valuation of $520 million, Anchorage sold their remaining 20% stake in the company altogether in September 2014. This proved to be a wise move by the investment firm as Dick Smith shares were halted from trading on the 4th of January 2016, having fallen 80% since the initial float.