Dick Smith will close all its stores in New Zealand and Australia over the next eight weeks.
The 430 New Zealand staff are expected to be paid what they are owed, up to a maximum of $22,160.
Analysts say Dick Smith struggled in recent years with too much competition and too much debt.
But its demise does not mean other big retailers will go the same way. The chain had moved from its niche area of gadgets to compete in the wider area of appliances.