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Billabong to sell 70 West 49 stores in Canada

 

Industry Updates

Billabong sells its West 49 Canadian retail stores

Surfersvillage Global Surf News, 30 May, 2013 : - - According to a recent story in the Australian, Billabong has decided to sell the 70 stores of its Canadian retail chain West 49, which it bought for $91 million in 2010.

Even if the results of Paul Naude's take over attempt haven't been announced, troubled surf, skate and skiwear group Billabong has put its Canadian retail operation up for sale. In the same move, there will be included six Billabong stores, 18 of its Amnesia stores, and two Element-branded doors.

“The business cannot stand still,” a company spokesman said. “We have previously detailed our plans around transformation and global simplification including retail, and where . . . appropriate we will action them.”

Earlier in 2010, Zumiez made an offer to buy West 49. Now speculations are that they might be interested to invest in Canadian retail.

www.billabong.com

Source: Sports One Source

Author: The Editors

Tags: Billabong, Business Updates, Buyouts

Industry: Surfersvillage

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