![]() ![]() In May, Dick Smith revealed its “store-in-store” strategy to open dedicated Mac1 kiosks to service Apple products within existing Dick Smith stores. This means in order for Mac1 to be sold off separately, Dick Smith creditors who weren’t originally Mac1 creditors may have input in the decision. However, a deed of cross guarantee applies, which means if any of Dick Smith’s companies are wound up, every creditor of Dick Smith also becomes a creditor to that company. Mac1 is one of only three Dick Smith subsidiaries that is not in receivership. ![]() The Apple reseller was acquired by Dick Smith 18 months ago but was placed under administration last week along with Dick Smith’s other subsidiaries.Īt the first meeting of creditors this morning, administrator Joe Hayes told attendees he believed that if Mac1 was sold as a separate business, it would produce a better return to creditors than if it was sold along with Dick Smith. The future of Dick Smith-owned Apple reseller Mac1 is up in the air Better to sell Mac1 separately from Dick Smith: creditors told ![]()
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