The Dunedin store, which moved to Crawford St last year, is one of nine Smiths City shops across New Zealand to close their doors today.
The big box retailer last month announced a downsizing which included the closure of its Wānaka store.
Founded in Christchurch in 1918, the company had disclosed it was facing increasing financial pressures.
“Despite closures of some stores and further downsizing measures, declining sales meant that the director of the company took the decision that trading could no longer continue,” administrators BDO New Zealand said in a statement.
“The voluntary administration process aims to achieve the best outcome for all stakeholders. This may include selling the business and assets to interested parties.”
All nine remaining Smiths City stores and the online shop had been “temporarily closed for business” so the financial situation could be assessed.
“The aim is to reopen stores later this week.” BDO said.
Smiths City customers who have paid deposits for purchases would be contacted directly by the administrators over the coming days.
– Allied Media
