Over 100 stores for the brands, known for their apparel for skaters, surfers, and snowboarders, will shut down following Liberated Brands' bankruptcy filing. The company cited a volatile global economy, rising living costs, and shifting consumer preferences as contributing factors.
All Quiksilver, Billabong and Volcom stores will close in the U.S. after their operator filed for bankruptcy. Altogether over 100 stores for the brands, that sell apparel for skaters, surfers and snowboarders, will close their doors. Liberated Brands filed a voluntary petition for Chapter 11 bankruptcy protection on Sunday in Delaware bankruptcy court.
” Todd Hymel, the CEO of the Costa Mesa, California, based company, said in a declaration of support for the bankruptcy filing that a “rapid and dramatic rise in interest rates,” inflation, supply chain delays, a decline in customer demand and shifting consumer preferences, cast “significant pressure” on the operator. He noted that during COVID-19 pandemic the brands saw a boom in business. During that time, Liberated expanded its retail footprint from 67 to 140 stores, Hymel wrote.
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