Billabong enters trading halt

Troubled surfwear retailer to update market on outcome of asset sale, refinancing talks with former suitors.

Troubled surfwear retailer Billabong International has entered a trading halt ahead of an update on the outcome of talks with former suitors over assets sales and refinancing.

The group requested the halt until Thursday morning at the latest.

In June, Billabong entered talks with Altamont Capital Partners and Paul Naude-led Sycamore Partners on asset sales and refinancing after takeover talks with the two consortiums had failed.

Billabong shares last traded at 25 cents.