Tablet in New Zealand. Computer Tables in New Zealand. Laptop in New Zealand. Electronics in New Zealand. We are a home based computer company that will look after all your computer needs including repair, fix, upgrade, advice, virus and malware removal, as well as yearly maintenance to….
Revealed: What caused Dick Smith's collapse - NZ Herald
Administrator McGrathNicol has released its report into the collapse of the electronics retailer, pinning the blame largely on a series of massive inventory purchasing failures combined with an ill-thought out and costly expansion. Prior to its successful listing on the stock exchange in late , Dick Smith had enjoyed strong sales growth, underpinned by an expansion plan and new lines of business. Dick Smith's expansion plans ate up all its surplus earnings and required significant borrowing at the same time as customer preferences began to change and the retailer began to lose market share. The expansion plans "went unchecked" and major inventory purchasing decisions in early to mid "meant Dick Smith was carrying too much stock that was not saleable and was overvalued". Dick Smith failed because the company did not have enough cash resources available to meet its current and future commitments.