Shares in electronics retailer Dick Smith have been placed in a trading halt this morning.
The halt comes ahead of an expected announcement about the retailer’s debt financing.
In a statement to the Australian Securities Exchange this morning, Dick Smith requested the trading halt end on Wednesday, January 6, or when an announcement is made regarding the company’s finances.
In late November, Dick Smith wrote down its inventories by 20% or $60 million and launched what it called a “mammoth” clearance sale of up to 70% off old stock.
ABOUT THE AUTHOR
News Editor
Eloise Keating is the news editor of SmartCompany and Inc Australia. Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on Twitter at @ellykeating.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.