Nick Abboud quits as CEO of Dick Smith

Dick Smith chief executive Nick Abboud has quit a week after the electronics retailer went into receivership with debts of about $390 million.

Receiver Ferrier Hodgson says Don Grover has been appointed as interim chief executive as it tries to restructure and sell the business as a going concern.

Mr Grover was formerly chief executive of Retail Fusion Brands and Dymocks.

Ferrier Hodgson has begun advertising Dick Smith for sale and says it has already received more than 40 initial expressions of interest.