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+--- Thread: Quiksilver, Billabong and Volcom - CLOSING (/showthread.php?tid=23564)
Quiksilver, Billabong and Volcom - CLOSING - leilanidude - 02-08-2025
Surf stores closing
"...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 estimated a range of $100 million to $500 million for its assets in its Chapter 11 bankruptcy petition. Estimated liabilities were the same.
The company said its U.S. stores will stay open "as the company begins its efforts to effectuate the close of its U.S. retail locations" but will ultimately shutter once their liquidation sale process is completed. Liberated also has nine locations in Hawaii, whose statuses are "currently being negotiated," according to the release. "
RE: Quiksilver, Billabong and Volcom - CLOSING - Punatang - 02-08-2025
Another clear example of the failed policies of the new administration. This is winning?
RE: Quiksilver, Billabong and Volcom - CLOSING - HiloJulie - 02-08-2025
"Another clear example of the failed policies of the new administration. This is winning?"
Oh my, the straw grasping!
Quiksilver, Billabong and Volcom stores across the US will close as operator files for bankruptcy | AP News
A few snips:
Liberated (Owner of Quicksilver, Billabong & Volcom) filed for Chapter 11 bankruptcy protection in Delaware court on Sunday. In court documents, the California-based company said it would be winding down and liquidating its North American business after struggling with a series of macroeconomic shocks, supply chain troubles and falling profits due to “fast fashion” rivals.
According to court filings, Liberated has decided to close all 124 of its U.S. brick-and-mortar stores, close its corporate offices and lay off nearly 1,400 employees. The liquidation sale process is already underway — and the company confirmed in a Monday press release that more than 100 stores will close after completion. But the exact timing is still unclear. The status of nine Hawaii locations are still in negotiations, Liberated said.
“We’ve been working closely with Liberated Brands to thoughtfully transition key licenses to trusted operators within our network,” David Brooks, Authentic’s EVP of action and outdoor sports, lifestyle, said in a statement. Brooks added that Liberated’s U.S. store fleet was “overinflated” and “burdened with outdated and underperforming locations” — and that physical U.S. locations “will likely be rationalized” in the future, perhaps with a stronger presence through department stores or e-commerce platforms.
That “combination of macroeconomic shocks” resulted in a “lethal combination of significantly lower revenue,” Hymel wrote. Brick-and-mortar retails also continued to struggle after online shopping skyrocketed during the pandemic, he added. And he also pointed to the impact of “fast fashion” on the industry.
“Consumers can cheaply, quickly, and easily order low-quality clothing garments from fast fashion powerhouses and have such goods delivered within days,” Hymel said — noting that Liberated and others have “suffered from decreased profit margins after losing part of their overall market share and pricing power to fast fashion.”
So, sounds more like poor long-term visionary management than anything the current or prior administration(s) could have caused, along with the vast increase of buying online (junk) from Amazon, Temu, et al.
And no, it's not winning. For anybody's sake.
RE: Quiksilver, Billabong and Volcom - CLOSING - Punatang - 02-08-2025
Meanwhile, somewhere north of Richmond...
RE: Quiksilver, Billabong and Volcom - CLOSING - HiloJulie - 02-08-2025
I think Billabong's CEO was more like Hal: