Administrators of embattled online retailer SurfStitch Group will kick off a formal sale process in the next week after receiving “multiple” approaches from potential buyers.
FTI Consulting director John Park said the administrators would go to market towards the end of this week or early next week seeking interest in a recapitalisation of the SurfStitch Group and offers for its online retailing operations in Australia.
“The market will be tested for people interested in a recapitalisation, a deed of company arrangement proposal for the SurfStitch Group,” Mr Park told The Australian Financial Review on Wednesday.
“Alternatively we’ll see if parties are separately interested in the operating business we’ll test the market…
Read the full article at: http://www.afr.com/business/retail/surfstitch-administrators-kick-off-sale-process-20170913-gygri0