Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 25-Aug-17

Online skate and surfwear retailer Surfstitch has appointed FTI Consulting as administrators. Chairman Sam Weiss cited a number of reasons for the decision, including ongoing litigation with major shareholder Crown Financial. The first meeting of Surfstitch’s creditors is due to take place on 5 September. Surfstitch listed on the sharemarket in late 2014 with an issue price of $A1.00, and its shares peaked at $A2.12 in November 2015. However, the stock was trading at just $A0.068 when it was suspended in May 2017.

CORPORATES
SURFSTITCH GROUP LIMITED – ASX SRF, FTI CONSULTING PTY LTD, CROWN FINANCIAL PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SURFSTITCH AUSTRALIA, STAB, SURFDOME, SWELL, MAGICSEAWEED, 333 CAPITAL PTY LTD, GADENS LAWYERS, QUINN EMANUEL URQUHART AND SULLIVAN LP, AMAZON PRIME, SURF HARDWARE INTERNATIONAL PTY LTD, GARAGE ENTERTAINMENT, DISTRICT COURT OF QUEENSLAND