Creditors of defunct electrical retailer Dick Smith have voted in favour of liquidation.
Administrator McGrathNicol will take over as liquidator of 10 companies within the Dick Smith group following the vote by creditors at a meeting in Sydney today.
McGrathNicol will continue to focus on the exact reasons for Dick Smith's collapse, and who is to blame.
Dick Smith creditors are expected to face a shortfall of more than $270 million, the administrators of the failed electronics chain said earlier this month.
McGrathNicol on July 13 also said secured banks - which include HSBC and National Australia Bank - would only receive a partial return on the A$140 million they are owed.
