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Boardriders surfs tough retail conditions

Carrie LaFrenz
Carrie LaFrenzSenior reporter

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Dave Tanner just pulled off a "Triple Lindy", the infamously implausible dive executed by Rodney Dangerfield’s character in the 1986 comedy Back to School that utilised all three platforms and appeared – at least in slow motion – to go on forever.

While heading the special situations team at California-based Oaktree Capital Management, Tanner spearheaded a move that has played out over six-plus years: buy into beaten-down surf company Billabong International; buy into rival Quiksilver, force a distress for control taking it into Chapter 11 Bankruptcy, and turn the company around; then take control of ASX-listed Billabong, which nearly didn’t happen, and try to integrate the two fierce rivals.

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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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    Original URL: https://www.afr.com/companies/retail/boardriders-surfs-tough-retail-conditions-20191219-p53lig