One of Tauranga's original surf shops is likely to be bought and re-opened after going into liquidation nearly three weeks ago.
Boardwalk Denim-Surf-Skate closed in Mid City Mall after operating in downtown Tauranga for more than 25 years.
The established store that sold branded surf and streetwear and footwear was hit by
the downturn in spending and increasing retail competition.
According to the liquidator's first report the owner, Boardwalk 2007, owed suppliers and other creditors about $430,000, though other claims at that stage were unknown.
The liquidator, Tauranga-based RHB Chartered Accountants, said the directors advised the reason for the failure of the company was the downturn in the economy and major competition moving into Tauranga, leading to a drop in sales.
Tom Rodewald, of RHB, said "we hope to have sold the business within the next few days".
Asked if the potential purchaser was a major corporate, Mr Rodewald said he couldn't comment until the deal was done.
The Boardwalk store sold brands such as Federation, Huffer, Rip Curl, Custom, Nixon and Billabong. The shop started life in the old Westpac Plaza, between Devonport and Grey Sts, in the mid-1980s. It was the second surf shop to open, after Island Style Surf & Skate at Mount Maunganui in 1978.
Boardwalk changed ownership four times and it moved to Mid City Mall in 2003 after the Deka building was redeveloped, providing more street-front retail space.
Over the years, the face of the vibrant and original surf shops changed. Island Style at Papamoa was bought by Amazon, which is owned by Billabong, and Backdoor Surf Snow Earth bought Assault and Island Style in downtown Mount Maunganui.
North Beach Surf n Skate moved into Fraser Cove Shopping Centre, as well as in the Mount.
Geoff Wyllie-Miln, operations manager at Nevada Denim-Surf-Skate, said retail in general had changed. "There's pressures all over the place - the internet and lack of disposable income. People are trying to pay for fuel, food and rent, and everyone (retailers) has been struggling over the past 18 months," said Mr Wyllie-Miln, who owned the Boardwalk store from 1999-2005.
He said the major movers in the surf and streetwear sector were North Beach and Backdoor. They were big players that went to the Mount and Fraser Cove and that would have impacted on the Tauranga central business district.
