Base Goes Bust

Mick's DH whip, not too far from Base HQ. Photo: Andrew Shield

Gold Coast surfboard operation Base is closing its doors, costing the jobs of about 30 staff, after attempts to save the business failed in the teeth of its debts.

Base went into receivership in September when the company's exposure to a tax debt of up to $1 million was revealed. Since then further debts to a range of creditors and investors have combined to sink any hope of a resurrection.

The company was started in 2003 when some of Australia's top surfboard designers, including Darren Handley, Murray Bourton, Simon Anderson, Nev Hyman and Maurice Cole, joined forces to try to re-set boardmaking's business model. But Maurice and Nev soon parted ways with Base, and Simon has since scaled back his involvement. Base's remaining assets will now be sold off.

It's a harsh blow to the employees, among whom are numbered some of Australia's better surfboard craftsmen. One thing’s for sure, someone’s gonna get hurt.

ASL has obtained a partial list of creditors to Base. They include the ATO, who claim $947,018.75, Darren Handley’s family trust ($587,373.07), Surf Hardware International ($100,000), and several accounts connected to former Base general manager Cameron Lamperd ($450,000).

Blankmaker South Coast Foam is owed $29,143.21, but Don Burford seems to have got off relatively lightly; his foam company is owed just $9883.76.

Several individual investors and funds are also listed, for amounts between $50,000 and $200,000, though absent from the list is the company’s former CEO, John Cross.

Total listed debts to date come to $2,982,331.18.

This does not include any debts owed to the staff of Base, who were laid off today. Other debtors are likely to come forward following today’s closure.

We'll follow up on this story as further news comes to hand.