Dick Smith chief executive officer Nick Abboud tendered his resignation on Monday night, effective immediately.

The company's receivers Ferrier Hodgson have also launched advertisements in Australia and New Zealand seeking expressions of interest for the sale of Dick Smith and subsidiary brand Move.

Overnight Dick Smith chief executive officer Nick Abboud resigned, effective immediately. Photo: Sasha Woolley/Fairfax Media

Don Grover has been announced as interim CEO the company and will assist Ferrier Hodgson to operate the business while the receivers work through restructuring DSH group and seek to sell it.

'Mr Grover has significant expertise in the retail sector gained through more than 30 years in the industry,” says Ferrier Hodgson.

'He was formerly chief executive officer and managing director of Retail Fusion Brands and the Dymocks Group of Companies, in addition to various operational roles at David Jones.”

Ferrier Hodgson says prior to today's launch of its advertising campaign they had already received more than 40 initial expressions of interest from various parties.

Deadline for expressions of interest will be January 27, and once assessed by the receivers, a shortlist of parties will be invited to start initial due diligence before submitting formal offers.

Ferrier Hodgson expects this process to continue well into February.

DSH operates 393 stores across Australia and New Zealand under four brands, Dick Smith, Electronics powered by Dick Smith, Move and Move by Dick Smith.

Creditors for the Dick Smith business include secured creditors that are owed approximately $140m and unsecured creditors owed approximately $250m.