Dick Smith’s four 'Move' Airport stores in Sydney will be closed, with 48 staff being let go.
Receivers Ferrier Hodgson said in a statement that the remaining employees would be given an opportunity to be redeployed within the remaining Dick Smith stores before they are closed in six weeks.
“Unfortunately, we have been unable to reach agreement to sell the Move Airport assets and have no option to close the stores located at Sydney International Airport effective from today,” said receiver James Stewart.
The Move stores specialised "fashtronics", a term used by Dick Smith when the stores were introduce in 2013 to describe fashion-focused tech products. Move's catalogue included products such as wearables, headphones and mobile devices, with products from Fitbit, Beats By Dre and Apple.
Dick Smith opened its first ‘Move by Dick Smith’ store in the Sydney International Airport in February and opened another three more that year, with a fifth planned in December. Dick Smith said that the airport stores were “exceeding expectations” with comparable sales up “double digits” during its 2015 financial year report.
Approximately 2,460 Australian staff have already lost their jobs when Ferrier Hodgson announced that Dick Smith would close on 25 February.
A further 181 employees were let go when the 27 Electronics Powered by Dick Smith stores – a joint venture with David Jones – were closed on 22 January.