Sunshine Coast's Beach Beat stores reveal $3m debt in administration

Debt disclosure

The company behind Sunshine Coast surf retailer Beach Beat has disclosed just over $3 million in debt as its voluntary administration continues.

Purple Corridor Pty Ltd, which operated Beach Beat stores in Caloundra, Alexandra Headland and Coolum Beach, entered voluntary administration on June 2, 2026.

The fuller creditor picture emerged in reporting based on ASIC filings published on June 16, which identified the largest claims and the company’s limited asset base.

The largest disclosed liability is $1.8 million owed to Judo Bank.

Who is owed money

The filings list about $100,580 owed to the Australian Taxation Office, about $147,000 in unused gift cards and store credits, $418,956 owed to trade creditors and a related-party loan of $462,150.

Trade creditors named in the report include suppliers such as Billabong, RVCA and Quiksilver.

The company’s reported assets are comparatively small. The documents list about $170,419 in stock and about $85,349 in cash.

That gap means unsecured creditors are facing a recovery process with limited available assets if the administration does not produce a sale or restructuring.

How the collapse unfolded

Beach Beat had already closed its doors before the debt disclosure emerged.

Earlier reporting on June 7 said the business had shut after about 40 years, leaving staff jobless and surprising a local community that had long associated the brand with Sunshine Coast surf retail.

The June 16 filings added the financial detail behind the collapse and confirmed the scale of the liabilities now sitting in administration.

Administrator's view

Administrator Dane Hammond said the collapse appears to be mainly tied to a downturn in trade and difficulty keeping up with borrowing commitments.

He also said the Australian Taxation Office debt does not appear to be a major reason for the company’s financial position.

That assessment points to a business under commercial pressure rather than one brought down primarily by tax obligations.

ASIC documents identify Martin Peknice as a director of the company.

What happens next

The next stage of the administration will determine whether Purple Corridor Pty Ltd is sold, restructured or liquidated.

Administrators are expected to provide a fuller report on creditor recovery prospects and employee entitlements.

Gift-card holders, suppliers and other unsecured creditors will be watching for any sign of repayment or a better return than the current asset pool suggests.

For the Sunshine Coast, the collapse marks the loss of a long-running local retail brand with a strong following over decades.