Dick Smith stores to shut for final time on May 3

The receivers of the failed consumer electronics chain Dick Smith have notified all stores in Australia and New Zealand of when they will shut shop for good.

The majority of Dick Smith's 390 stores across Australia and New Zealand began closing in April, with the final 21 slated to shut their doors on May 3.

Once the process of closing the stores down is complete, a total of 2,890 staff members will have lost their jobs.

"This has been a difficult and uncertain time for employees, and we have really appreciated their assistance and commitment," Ferrier Hodgson receiver James Stewart said in a statement.

He said all Australian and New Zealand employee entitlements will be made a priority ahead of secured creditors, and are expected to be paid in full.

Dick Smith has been forced to close after receivers were unable to find a buyer for the bricks-and-mortar stores.

In March, ecommerce retailer Kogan.com picked up the Dick Smith brand and online retail business, which will take effect from June 1.

At the time, Kogan said it would handle customer information currently held by Dick Smith, and would contact customers and give them the opportunity to have their details removed before it is transferred to Kogan. Kogan said customers who provided their information to Dick Smith after receivership on January 4 would not have their information disclosed.

Dick Smith entered voluntary administration in January after it was unable to secure funds following a disappointing Christmas period.

In 2012, Dick Smith was sold by Woolworths for AU$94 million to private equity firm Anchorage Capital Partners. A year later, Dick Smith was floated on the Australian Securities Exchange with a valuation of AU$520 million.

With AAP