Billabong International Ltd. (ASE: BBG), the troubled retail chain best known for sportswear and beach attire, has opted to sell off some units separately, after talks with private equity firms to buy the company outright appear to have stalled.

Billabong is reportedly looking to sell three segments — DaKine Hawaii Inc., RVCA, and West49 — as a means of raising enough capital to repay the company's $350 million syndicated debt facility. The planned auctions are believed to be a last ditch effort on the part of the Australian franchise after it became apparent to potential suitors that the continuing deterioration of the business meant buying  the entire company would be increasingly difficult.

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