Embattled etailer Surfstitch could be salvaged, according to reports from the first creditors meeting.
The meeting, helmed by administrator FTI Consulting's John Park, revealed a proposal to relist the company on the ASX to avoid liquidation.
According to Park, the draft proposal was from an insider with a history at Surfstitch.
The deed of company arrangement is the first to be received by administrators, with more expected in coming weeks.
Surfstitch entered administration last month, with two shareholder class actions against the company.