Billabong updated the market today in Australia on its status.
The company said it is in advanced, separate negotiations with Altamont Capital Partners and Sycamore Partners on asset sale and refinancing options.
The talks are “well advanced with both parties,” the company said.
If a deal happens, and the company said there is no guarantee that it will, the proceeds will be used to pay off the company’s debt in full.
Billabong’s stock price rose to 19 cents on the news. It had previously closed at 13 cents per share.
