Liberated Brands, the operator of Quiksilver, Billabong, and Volcom stores in the U.S., has filed for bankruptcy, leading to the closure of over 100 stores selling apparel for skaters, surfers, and snowboarders. The company cited a volatile global economy, rising cost of living, and inflationary pressures as reasons for the bankruptcy filing. CEO Todd Hymel pointed to factors such as rising interest rates, supply chain delays, and shifting consumer preferences as contributing to the company’s financial struggles. Despite a boom in business during the Covid-19 pandemic, the end of the pandemic led to a decline in customer demand and profitability, exacerbated by increased online shopping and consumer preferences for fast fashion.
Liberated Brands expressed optimism that many employees had found new opportunities with other license holders that will continue to carry the brands forward. Parent company Authentic Brands Group has stated that the brands will transition to another operator, ensuring that fans of Quiksilver, Billabong, and Volcom will still have access to their favorite apparel. The closure of the stores is seen as a significant change, but the company remains hopeful for the future of the brands under new management.
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