15 Mar 2016

The Dick Smith name looks set to live on

1:18 pm on 15 March 2016

The Dick Smith name is expected to live on after Kogan.com bought the brand.

The Australian online retailer has purchased the electronics company's online business, including its brand, for an undisclosed price.

Dick Smith retail store.

Dick Smith had more than 400 electronics stores in Australia and New Zealand. Photo: WikiCommons

The deal also includes trademarks and other intellectual property, and the company's databases and customer lists, which are subject to New Zealand's privacy laws.

Dick Smith, which was placed in receivership early this year, was expected to be relaunched as an online-only brand on 1 June. It would continue to offer consumer electronics and appliances.

Customers would be given the option of having their details removed prior to the transfer.

Kogan.com, which was founded about 10 years ago by Australian entrepreneur Ruslan Kogan, said it was committed to rebuilding customer trust in the brand.

It acknowledged that process could take some time.

Physical stores to shut

Dick Smith's receiver said in February that all of the chain's stand-alone stores in Australia and New Zealand would close, as it had been unable to find a suitable buyer.

The retailer had been operating more than 400 stores employing nearly 3000 staff across the two countries, with its 62 stores in this country expected to close in the next couple of months.

The closure was expected to affect about 430 staff in New Zealand, who were entitled to redundancy payouts of up to $22,160.

The entitlements of those who were made redundant were expected to have preferential treatment over other secured creditors.

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