FTI Consulting, administrators of ailing Australian etailer Surfstitch, has released an update of the second creditors meeting, where the fate of the company will ultimately be decided.

In a statement to the market, the administrators stated the creditors will determine the future of the company and the outcome of the voluntary administration at the meeting.

The outcome of the voluntary administration will either be that Surfstitch is recapitalised through a deed of company arrangement or is liquidated.

FTI also revealed that there were a number of parties actively engaged in the campaign to recapitalise the business.



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