All 10 of the Australian surf retailer Brothers Neilsen shops remain closed after the founders were unable to sell the company, according to a story in The West Australian.
Liquidators deemed that a deed of company arrangement, accepted by creditors in January 2007, was not capable of being successfully completed because of the difficult trading conditions being experienced by the business. . . It is understood Brothers Neilsen and Brothers Neilsen International owe a combined $3.5 million to creditors, including surfwear manufacturers Rip Curl and Billabong and smaller clothing suppliers.
[Link: The West Australian]
