The question of how much action sports apparel-maker and retailer Quiksilver is worth is at the heart of a disagreement that could stall the company’s bankruptcy proceedings.

A judge sent the dispute to mediation, which will take place Jan. 15.

The company’s plan for reorganization cited an enterprise value of the company, upon emergence from bankruptcy, as being between $499 million and $602 million. That is based on research findings from Peter J. Solomon Co. The creditors committee pushed back on the estimates, arguing it undermined any sale process at which a $735 million minimum had been set on any potential bids.

Oaktree, the Los Angeles investment firm that provided Quiksilver with debtor-in-possession financing, is now arguing the value of the company has since plunged since seeking Chapter 11 relief. The company said in documents filed in court last week that a report from Houlihan Lokey Capital Inc. showed continued pressures on the business and broader industry landscape Quiksilver competes in. Oaktree also pointed out in its latest motion that prospective suitors for the company have yet to materialize.

The strife is a wrench for the company as it winds its way through reorganization. Quiksilver filed for bankruptcy in September.

A hearing on the company’s bankruptcy plan is set for Jan. 27.

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