Enter Details

Comment on stories, receive email newsletters & alerts.

This is your permanent identity for Business Insider Australia
Your email must be valid for account activation
Minimum of 8 standard keyboard characters


Email newsletters but will contain a brief summary of our top stories and news alerts.

Forgotten Password

Enter Details

Back to log in

The shares of Dick Smith competitors are surging

Scott Barbour/Getty Images

Shares in the companies of competitors of Dick Smith jumped on the news of the closure of the electronics retailer.

JB Hi-Fi, which will probably benefit most from the disappearance of Dick Smith, went 5% higher.

A short time ago, JB Hi-Fi shares were trading at $22.08.

Harvey Norman, which also sells consumer electronics including computers, gained 1.65% to $4.63.

The rest of the retail sector on the ASX was trading lower.

Ferrier Hodgson, the receivers for the electronics chain, says the Dick Smith store closures will take up to eight weeks.

The receivers didn’t get an acceptable offer to buy the chain as an operating business.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at