Boardriders to cut 55 Gold Coast jobs
NEW Billabong owner Boardriders will close the Helensvale distribution centre next year, cutting 55 jobs in the process.
The centre is to be relocated to Geelong while the national headquarters will move to Burleigh Heads.
Boardriders said the Burleigh Heads move will create a “significant” number of jobs, without offering details.
“At this stage we are still identifying the functions that will remain across both offices,” a spokesman said.
Billabong shareholders voted on March 8 to accept a
$1.05 a share takeover offer from California-based Boardriders, which is majorityowned by US group Oaktree Capital. The company ceased trading on the ASX in April, when its market capitalisation was listed at $206.99 million.
A statement from Boardriders,
which owns the Quiksilver and Element brands, yesterday said that “after a thorough review”, it has decided to choose Geelong as its main distribution centre in Australia. “The expanded facility in Geelong will support the full portfolio of brands following the combination of Boardriders and Billabong,” the statement reads.
“As part of the expansion of Geelong, the company will close its distribution facility in Helensvale, Queensland, in mid-2019.”
Boardriders said it was working out what roles would be suitable for relocation to Geelong.
Boardriders Asia Pacific president Greg Healy said the changes meant the company maintained its footprint in locations that were important to both the heritage of Boardriders and Billabong.
“We are very excited to grow our operations in Geelong as we service all of our brands from one centralised location,” he said.
“We are thankful to the employees in Helensvale for their dedication and hard work.” The decision to close the Helensvale centre comes after a raft of executives departed Billabong in the wake of the takeover.
They include CEO Neil Fiske, who brought in by US private equity groups in 2013 to revive Billabong’s flagging fortunes, chairman Ian Pollard, founder Gordon Merchant, and fellow directors Kim Anderson, Howard Mowlem and Elliot Weinstein.
Mr Fiske has since moved to the position of president and CEO of Gap brand.