Surfstitch

Retail Asia05/04/2018

SurfStitch creditors have approved a proposal from EziBuy to take over the embattled surfwear company and either relist or sell it in the next three years, bringing the online retailer’s drawn-out administration to a close on Wednesday. Nearly two-thirds of creditors voted in favour of the deed of company arrangement (DOCA) proposed by EziBuy’s parent company, Alceon Group, over […]

Retail Asia17/10/2017

The administrators of Surfstitch Group and Surfstitch Holdings have announced the sale of wholly owned UK subsidiary, Surfdome Shop Limited to Internet Fusion Limited. Internet Fusion has paid cash and has an obligation to pay deferred consideration for the acquisition. The total consideration (including the deferred consideration) for the acquisition amounts to c.GBP £7m. John […]

Retail Asia12/09/2017

A party previously involved with Surfstitch has submitted a draft bid to restructure the company, which would see it re-list on the ASX, pending support from a creditor vote in coming months. Administrators FTI Consulting, appointed last week, notified creditors of the proposal at a meeting in Sydney on Tuesday morning, but FTI senior MD John […]

Retail Asia24/08/2017

Struggling surfwear chain, Surfstitch Group, has today entered administration after appointing John Park, Quentin Olde and Joseph Hansell of FTI Consulting effective immediately. The retailer’s online companies, SurfStitch (Aus), SurfDome (UK) and Swell (US), and publishing businesses MagicSeaweed (UK) and Stab (Aus & US) will continue to trade while the administration process takes place. Sam Weiss, […]

Retail Asia07/08/2017

Sam Weiss, chairman of struggling surfwear retailer, Surfstitch, has survived a shareholder’s attempt to remove him from the post. Crown Financial, which has a more than a five per cent stake in Surfstitch, had sent the company a notice of requisition to hold the shareholder meeting, after taking legal action against Surfstitch related to a […]

Retail Asia06/03/2015

Online surf and action sports retailer Surfstitch is on track to deliver its first profit in three years and is eyeing the sales and market share of bricks and mortar and online rivals as part of a five-year plan to lift sales fivefold to AUD1 billion (USD788.2 million). Surfstitch reaffirmed its full-year prospectus forecasts on […]

Tag: Surfstitch

SurfStitch creditors approve the EziBuy deal

Surfstitch casts aside another brand

Proposal made to restructure Surfstitch

Struggling Surfstitch slips into administration

Surfstitch chairman survives shareholder’s removal attempt

Surfstitch sets sights on USD788m prize