Drop-ins welcome for remains of failed SurfStitch
Link copied to
Time’s running out to get your hands on what’s left of failed surf wear retailer SurfStitch.
Administrators for the company (ASX:SRF) are seeking proposals to recapitalise or purchase its assets before a second meeting of its creditors on February 19.
The meeting will decide the fate of the company – whether it will continue through a deed of company arrangement or be liquidated.
But you best be quick, expression of interest close later today.
In an update to the market late on Tuesday, administrators said there were a number of parties actively engaged in the expression of interest campaign, but could reveal no further details pending the report to creditors.
Surfstitch was put into voluntary administration in August, and since then has sold off its digital magazine assets, STAB and Magicseaweed, as well as online sport retailer Surfdome.
Apparel brand Swell and the SurfStitch website remain operating while the listed and holding companies have been in administration.
SurfStitch shares were suspended in late May at 6.8c — a fraction of their $1 issue price in December 2014.