Jaycar Makes Play For Dick Smith Premises

18/01/2016 2:08 PM AEDT | Updated 15/07/2016 12:51 PM AEST
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AUCKLAND, NEW ZEALAND - JANUARY 05: Dick Smith's Manukau Store on January 5, 2016 in Auckland, New Zealand. Dick Smith was taken public by buyout firm Anchorage Capital Partners two years ago. Stock last traded at 35.5 Australian cents on the ASX, after dropping 84 per cent from the A$2.20-a-share Anchorage set for its initial public offering two years ago. The electrical retail chain was founded by the entrepreneur Dick Smith in the 1960s. (Photo by Dave Rowland/Getty Images)

Business is business and opportunities shouldn't be missed, sure. But can some business come, well, a little too soon?

jay car

Picture: Twitter/@robbiejwood

The fall of electronics retailer Dick Smith has been seized as a growth opportunity by Jaycar Electronics, which is encouraging landlords with Dick Smith leases to ring for a "confidential no-obligation discussion" about their premises.

If it's at all possible for a black-and-white print ad to ooze a cheshire cat grin, it's this one. And these sentences fit in like mocking dimples:

"Dick Smith Electronics may indeed trade out of their current problems and indeed we wish them well," the ad reads.

"You probably have nothing to worry about."

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'You probably have nothing to worry about.'

Former marketing director, Dick Smith employee and Jaycar founder, Gary Johnston, took out the ads in the Australian Financial Review after seeing Dick Smith's collapse as an opportunity to grow his thriving Jaycar Electronics retail chain.

He said he would be pleased if he picked up half a dozen former Dick Smith premises.

"We're already in negotiations with a number of landlords. We're interested in the retail strips and good, free-standing sites, but not the shopping centres," he told the AFR.

"The great bulk of our customers are men, who have a deep-seated dislike of shopping centres."

Dick Smith was placed into voluntary administration in early January, after a torrid year for the retailer which saw its shares plummet by 80 per cent.

The iconic brand, founded in the 1960s by the Australian entrepreneur and aviator Dick Smith, had been one of the leading names in electronics for decades; however, recent years have seen the retailer struggle as competitors branched out their offerings and customers increasingly turned online for their technological needs.

Jaycar has 90 stores in Australia and New Zealand and is reportedly worth more than $500 million.

Comment has been sought from Mr Johnston.

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