Finance

Dick Smith enters trading halt

Eloise Keating /

 

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

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Eloise Keating

Eloise Keating is the editor of SmartCompany. Previously, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry.

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