Antipodean electronics retailer Dick Smith has said that it will be closing all 363 stores in the next eight weeks, with the loss of 2,890 jobs.

The company went into receivership in January having amassed debts of $400 million. The eponymous founder accused private equity group Anchorage of “destroying” the business

"When I owned Dick Smith it was a company selling electronic components. I've never been involved in consumer electronics I don't know how anyone could make any money out of it," he said "I wouldn't look at buying back the name but I'm incredibly angry about the utter dishonesty of Anchorage Capital and I hope ASIC and the Senate Inquiry do something about them."

"The staff could still be there, if they didn't have this ridiculous, never-ending growth strategy," he added.

“While we received a significant number of expressions of interest from local and overseas parties, unfortunately the sale process has not resulted in any acceptable offers for the group as a whole or for Australia or New Zealand as standalone businesses,” receiver James Stewart said.