Entrepreneur and adventurer Dick Smith has accused the private equity group that listed the Dick Smith electronics stores in a $520 million public float of "destroying" the business and putting close to 3000 staff out of work after receivers, Ferrier Hodgson, announced it was shutting down the troubled chain.

The founder of the original Dick Smith business said he had no interest in buying back the rights to the 'Dick Smith' name or any part of the troubled business.

"I haven't been involved for 30 years," he told Fairfax Media.

"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," Mr Smith said.