By  on August 27, 2013

SYDNEY — The Billabong saga drags on, with the embattled surfwear manufacturer posting a record full-year loss that is more than triple its market capitalization, its core brand now valued at zero — and its board forced to consider a last-minute alternative refinancing deal.

On Tuesday morning, Billabong’s shares plunged as much as 15 percent after the company reported a net loss after tax of 859.5 million Australian dollars, or $776 million at current exchange, in the 12 months to June 30, a sharp decline from the 275.6 million Australian dollars, or $287 million, loss in fiscal 2012, after writing off 867.2 million Australian dollars, or $783 million, from the value of its brands and goodwill.

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