Barely a week after the collapse of embattled surf and skate wear retailer SurfStitch Group, administrators have received a proposal to restructure and relist the company an outcome that would preserve some value for long-suffering shareholders.
The confidential proposal was received on Tuesday morning before the first SurfStitch creditors meeting at the company’s headquarters at Burleigh Heads on the Gold Coast.
Administrator John Park, from FTI Consulting, said the proposal was received from a party who had previously been “involved” with SurfStitch.
However, he refused to say if it had come from co-founder and former chief executive Justin Cameron.
“It was submitted on a private and confidential basis at this stage,”…
Read the full article at: http://www.afr.com/business/retail/surfstitch-receives-first-restructure-proposal-20170904-gyav23