Ocean Grove store Greenroom Operations Pty Ltd into liquidation owing $487,000
The well established local store went under for racking up a big debt just two years after a change of owners.
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An Ocean Grove store that serviced surfers and skaters for more than 30 years has been forced into liquidation nearly $500,000 in debt.
Greenroom Operations Pty Ltd, trading as Greenroom Surf, was left with only $12,000 in the bank at the time of insolvency.
The locally owned and operated retailer, found at 64 The Terrace, sold surfboards, skateboards, wetsuits, clothes, and more.
It owes 26 different creditors a total of $487,000.
Ben Te Wierek of BTW Advisory was appointed liquidator on April 4 this year.
Australian Securities and Investments Commission documents list Leah Cachia, Joshua Cachia, Alan O’Brien, and Susan O’Brien as the directors of the company.
They took over the business, which was established in 1994, just over two years ago.
After changing hands, the business employed Newtown based design agency Residency Studios to give them a “contemporary facelift” that “modernised” the brand identity while still preserving its “retro charm.”
The majority of the debt was in the form of a NAB Instalment loan to the tune of $306,000.
The other 25 creditors, which includes popular fashion labels like Rip Curl, Patagonia, New Balance, and Afends, are owed a total of $189,000.
However, there could be more financial pain to come.
In a statutory report, Mr Te Wierek said that Greenroom Surf’s landlord is “currently preparing a reconciliation of amounts owing” and that he was still waiting on the Australian Taxation Office to confirm the amount owed to them.
Ms Cachia, Mr Cachia, Mr O’Brien, and Ms O’Brien could not be contacted for comment.
According to ASIC data, in 2025 alone about 310 retail businesses from across the country have filed for insolvency.
Nearly a third of them came from Victoria.
Greenroom Operations Pty Ltd is not the only long standing business on The Terrace to go under in recent memory.
In August 2024, Beach Phase Pty Ltd — trading as Piping Hot Chicken and Burger Grill — was plunged into liquidation after four decades in business.
It sat directly across from Greenroom Surf and owed nearly $125,000 in tax among other costs.
Eateries located in the heart of the popular Bellarine town also had a tough time last year.
Italian restaurant Napona on Hodgson St closed its doors after it accumulated a $270,000 tax debt, while Kyosk Cafe on The Parade was liquidated owing $570,000 in tax and $140,000 in superannuation.
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Originally published as Ocean Grove store Greenroom Operations Pty Ltd into liquidation owing $487,000
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