Quiksilver, Billabong, and Volcom are permanently closing all of their stores in the United States after their operator, Liberated Brands, filed for bankruptcy. The company cited fast-fashion rivals, rising costs, and changing consumer spending habits as reasons for its financial struggles. While the stores are shutting down, the brands will continue to operate through other retailers.
Quiksilver, Billabong and Volcom, once a magnet for Millennials looking for surfer and skateboard-inspired clothing, are permanently closing all of their stores.
Liberated has "worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer spending changes amid a rising cost of living and inflationary pressures have all taken a heavy toll," the company said in a statement. Despite Liberated's demise and store closures, the three brands aren't disappearing. Authentic Brands Groups, the clothiers' parent company, is transitioning the licenses to another operator to keep making the clothes.
BANKRUPTCY RETAIL FAST FASHION ECONOMIC FACTORS STORE CLOSURES
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