Liberated Brands, the owner of licenses for brands like Quiksilver, Billabong, and Volcom, filed for Chapter 11 bankruptcy protection and announced plans to close its 124 US retail stores. The company cited macroeconomic issues, including rising interest rates, inflation, and declining customer demand, as contributing factors to its financial struggles. While the stores will remain open during the liquidation process, they are expected to shutter permanently once the sale is complete.
Liberated Brands filed for Chapter 11 bankruptcy protection over the weekend and is looking to shutter its U.S. retail stores where it sold brands like Quiksilver, Billabong and Volcom. The company said in a Monday press release that it filed for bankruptcy to "implement an orderly monetization and disposition of its businesses." It submitted a motion to the U.S. Bankruptcy Court for the District of Delaware for the closure of about 124 stores as part of its bankruptcy proceedings.
Liberated held the licenses for Quiksilver, Billabong, Roxy, RVCA and some other Authentic Brands-owned brands since late 2023, adding to the one it already had for Volcom, Hymel said in a filing. The licenses for Liberated to operate Volcom, RVCA and Billabong in North America were terminated in December of last year "as a result of Liberated’s default under the associated licenses," according to Liberated’s CEO.
BANKRUPTCY RETAIL LICENSES CONSUMER DEMAND ECONOMIC ISSUES
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