One of our favourites Billabong is in trouble. The economic times have hit the surfwear manufacturer and as a company they are having a difficult time.

This week Billabong rebuffed the third takeover bid from US-based private equity firm Trilantic Capital Partners, TPG are a venture capital house made up of ex-Lehman bankers. The buyout company last week offered to buy all of Billabong’s shares for AU$3 each. Billabong said this under-valued their business and their plans.

Billabong earlier this month said it will cut 400 jobs across the world, and will close loss-making stores after reporting a 71 per cent decrease in 6 month earnings, down to AU$16 million ($17.1 million). The company has announced another extensive review of its 677 shops. Between 100 and 150 loss-making stores across Australia, Europe and North America will close and up to 400 full-time jobs will be cut, including 80 in Australia.

This could save Billabong A$30m in rental costs and aid underlying earnings by  A$10m next year. They plan a further $30m in costs to be cut across the business (head office and corporate overheads etc), supply chain and marketing budgets. As the same time it announced a reduced dividend of 3c a share – will it impact the business and the clothes we like?

The long-serving Billabong Chief Exec, Derek O’Neill (oh, the irony), and the board, which has remained pretty much unchanged for the past decade, are under a lot of pressure to turn the company around. Perhaps they need some new faces and new ideas as a company.

Billabong are working towards a deal with Nixon, which sells high-end watches and headphones, made about $US125m in sales last year. Nixon are doing OK, and would make an interesting combination – or at least fresh injection of ideas – with Billabong.

Are there Billabong surfwear bargains to be had? We’ll find the cheapest for you, and keep you posted.

We tried to get more financial opinion, but unfortunately Genevieve Morton was unavailable for comment:

How’s this for surf brand giant Quiksilver soaring to new heights?: the Quiksilver logo on the side of an Australian Jetstar A320 VH-VGZ. This special (/”Easy”?) livery was developed in partnership with surf wear brand Quiksilver marking the 2010 Quicksilver Pro on the Gold Coast.

Supposed to be a Quicksilver decal – but how safe this is on a plane we’re not sure, but if it’s still going and not fallen off over the south Pacific perhaps we can borrow it for the VW surf van, would look awesome on the side – applied to a VH-VGZ it features Australian surfer Julian Wilson. His Quiksilver signature board shorts are designed by his mother Nola. Thanks Mum.

Tell us the best or most unusual places you’ve seen surf brands surface / fly / appear / ride … …

We have 10 O’Neill beanie hats to give-away absolutely FREE! Perfect for keeping warm in the snow on the slopes, or just when you’re out getting coffee. Stay warm yourself with a great new beanie hat – or give it away as a Christmas present! They are soft, warm, and patterned – we’ve grabbed ours now it’s cold.

ll you need to do is write a review of us on your website, blog, or Facebook page:

1. Write a review of Surfwear.co.uk and post it on your site
2. Email us to let us know where your review is, and include your name and address
3. We send you free surfwear! Easy!

- Unisex adult grey patterned beanie
- Side branding label
- Material 100% acrylic
- retail price £14.99 BNWT.

There’s one per household/email to give-away, while stocks last. Grab one now!

Get writing and get your free surfwear now! One adult size fits all (shown to be a bit too big on our 7 year old skater here!).

Keep watching for more more competitions and more free surfwear!…

Heard the Wainman Rabbit Gang would be at Lancing on Monday and Tuesday so thought I’d go check em out. They showed up on Monday but the wind failed to play ball. Tuesday was a different story, the wind start to build and then five times world champ Aaron Hadlow shows up with Neal Hilder, Kev Maguire and pier jumper Lewis Crathern; then the Rabbit Gang arrived! Lou Wainman, Franz Olry and Niccolo Porcella. The excitement was almost to much to take, then they pumped up and BAM!

Its difficult to describe just how amazing it was to see some of the best kiters in the world and the legend that is Low Wainman all out at my beach!

But hey just another day at Lancing Beach.

We thought what better than get a few proper top class sponsored athletes to grace these pages. Celebrities of the water-world who could share their news of the thrills and spills of the professional tour. Superstars of surfing, with stories of sponsorship and life on the beaches of the world…

Instead we found The Lancing Rider. He was hanging with Niccolo at the beach, and looked legit’.

rider and niccolo

March madness at Hardcloud for the whole of May, 20% off all SHIRTS and POLOS!

Valid from today until 31st May 2010, EVERYTHING in your basket is 10%!

Code is = MAYAFF

Tell us what you’re thinking of buying and we’ll see if we can review it here!…

15% off everything at Extreme Pie this Bank Holiday Weekend, until midnight on May 4th:

Code – May15

Then 12% off everything for the rest of May when you spend £60 or more on non sale items:

Code – May12

MandMDirect are offering half price deliver at £1.99 to the UK mainland on orders before the end of April.

Enter code HP01.