SurfStitch has become the latest retail brand to be plunged into voluntary administration and faces the threat of liquidation. Not only that, but Nike Australia, which sold certain items to the iconic Australian brand, is chasing $237,760 in what it claimed were unpaid dues.
Nike has initiated legal proceedings against SurfStitch in the Supreme Court of Victoria, and the matter is due to be presented next week, according to the Herald Sun. Edwin Narayan and Domenic Calabretta, from Mackay Goodwin, were appointed as administrators earlier this month to sort out the retailer’s finances.
This comes after SurfStitch fell…