Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Business

All Quiksilver, Billabong and Volcom stores to close in U.S.

by admin February 7, 2025
February 7, 2025
All Quiksilver, Billabong and Volcom stores to close in U.S.

All Quiksilver, Billabong and Volcom stores in the United States will close after their operator filed for bankruptcy protection. 

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 Sunday in U.S. Bankruptcy Court in Delaware.

“The Liberated team 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,” Liberated Brands in a statement, according to Financier Worldwide. “Despite this difficult change, we are encouraged that many of our talented associates have found new opportunities with other license holders that will carry these great brands into the future.”

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 experienced a boom in business. During that time, Liberated expanded its retail footprint from 67 to 140 stores, Hymel wrote. However, as the pandemic ended and interest rates and inflation went up, customer demand weakened. 

The pandemic also had increased demand for online shopping and led Liberated’s brick-and-mortar retail footprint to impose “a further drag on profitability.” Hymel also said consumer demand toward “fast fashion” contributed to a decrease in profits.

Fans of the labels won’t have to fear, though, as parent company Authentic Brands Group said it will transition to another operator.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Pakistan issues deadline for Afghan refugees after Trump blocks US resettlement pathway
next post
Lara Trump to host weekend show on Fox News

Related Posts

October inflation report expected to show slower price...

November 14, 2023

Peloton launching resale market for used bikes, treadmills

June 4, 2025

Nvidia’s CEO did a Q&A with analysts. What...

March 23, 2025

JPMorgan Chase CEO Jamie Dimon on Trump tariffs: ‘Get...

January 23, 2025

Oil prices rise more than 1% as Israel...

June 21, 2025

Universal’s new Epic Universe park set to generate...

April 17, 2025

Federal Reserve holds interest rates steady as consumer...

February 1, 2024

Consumer confidence pops in the last month of...

December 22, 2023

Richard Parsons, former Time Warner CEO, dies at...

January 3, 2025

U.S. gas prices are likely to keep falling...

October 14, 2023

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 2

      Understanding Lithium Mineralogy from an Investment Perspective

      September 12, 2023
    • 3

      US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen’s North American Expansion

      June 6, 2025
    • 4

      Israel confirms it is arming Hamas rivals in operation opposition calls ‘complete madness’

      June 6, 2025
    • 5

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 6

      Crypto Market Recap: Strategy Eyes US$1B Raise for Bitcoin Push, UK Regulator Reverses ETN Ban

      June 6, 2025
    • 7

      China’s aircraft carriers send message in the open Pacific for the first time – and bigger and more powerful ships are coming

      June 16, 2025

    Categories

    • Business (1,051)
    • Investing (2,077)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,385)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved