Sponsors
Billabong ▲ +0.002 | PPR ▲ +2.40 | American Apparel ▲ +0.31 | The Buckle ▲ +0.25 | Columbia ▼ -0.26 | Deckers Outdoor ▲ +1.49 | Dicks ▲ +1.44 | Foot Locker ▲ +1.55 | Genesco ▲ +1.88 | Iconix Brand Group ▼ -0.22 | Jarden Corp ▲ +0.74 | Nordstrom ▲ +1.75 | Luxottica ▼ 0.00 | Nike ▲ +2.58 | Pacific Sunwear ▲ +0.01 | Skullcandy ▲ +0.31 | Sport Chalet - 0 | Urban Outfitters ▲ +0.85 | VF Corp ▲ +1.45 | Quiksilver ▲ +0.13 | Zumiez ▲ +0.48 | Macys ▲ +1.31 | Tillys ▲ +0.11 |
Ticker Sponsor
Readers Say
I require all our executives to read it
I require all our executives to read it

There is no better publication that I am aware of that is so accurate and on top of any news and developments in our industry. I personally recommend it to many people that want to know and understand more about our industry. For the most part, shop-eat-surf.com gets the stories first. As a matter of fact, I require all the executives in our company to read it.

- By Hezy Shaked, President & CEO, Tilly's
In touch with our business
In touch with our business

If you're not plugged into Shop-Eat-Surf.com daily, you're out of touch with our business!

- By Peter "PT" Townend, The ActivEmpire
Industry Insight

AGENDA: GroupY's Emerge brand-building conference returns on Jan. 6.
SURFRIDER: "Protect What You Love" holiday appeal.
MOSS ADAMS: Plan now for tax season.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

A talk with Adrenalina CEO Ilia Lekach

By Tiffany Montgomery
July 02, 2009 8:23 AM

Lekach says he is working on a friendly merger with an action sports retailer, and it's not Active.

I had a short but interesting telephone conversation yesterday with Ilia Lekach, the CEO of Adrenalina.

Adrenalina, based in Miami, is an action sports retailer with four stores - three in Florida and one in Texas. Its stores feature a wave pool where customers can surf and ride waves. Lekach has been in the news lately after making unsuccessful bids for retailers Pacific Sunwear and West 49.

Lekach had expressed interest at one point in bidding for the bankrupt Active Ride Shop chain, and I wanted to find out if he is in investor in the Florida LLC that is buying Active out of bankruptcy court. A bankruptcy judge approved that sale this week.

Lekach told me he is not involved in the Active acquisition, though the people behind Active Sports Lifestyle are his friends. I asked if he would ever partner with them in the future and Lekach said it's "possible."

He said the most impressive thing about Active is its web business though he also likes the stores as well. "The concept is great, the merchandising is great, the private label is excellent. The company is wonderful. They just picked a bad time to grow."

Interestingly, Lekach said he is working on a new acquisition of an action sports retailer based in Southern California. He would not name the retailer or give hints like the number of stores it has, citing a confidentiality agreement.

But he said it's friendly merger, and the deal is past the courting stage.

Adrenalina's wave pool draws big crowds to its stores and to malls, but the company has struggled financially. For the nine months ended Sept. 30 2008, the company reported a net loss of $6.1 million.

The company announced in April that it was unable to file its annual report for the year ended Dec. 31 on time.

"... In light of its ongoing evaluations of its assets, business and cash requirements, (Adrenalina) is unable to file its Form 10-K for the period ended December 31, 2008 within the prescribed period of time," the notice says. "The Company is researching strategic alternatives to enhance operating performance and stockholder value, including restructuring its balance sheet, reducing costs and negotiating with its creditors to address the Company's liquidity issues and implementing a revised strategic plan. There can be no assurance, however, that these initiatives will be successful."

 


Articles You Might Have Missed