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

See inside Ford’s new tech campus, a century-old...

June 4, 2024

Recalled products linked to more than 100 infant...

August 25, 2023

Southwest Airlines is now limiting a service that...

August 25, 2023

Peloton shares fall after it posts wider-than-expected loss,...

August 24, 2023

Cruise CEO Kyle Vogt resigns from GM-owned robotaxi...

November 22, 2023

Are fears of a shoplifting surge running away...

November 13, 2023

Sam Bankman-Fried to learn fate today for orchestrating...

March 28, 2024

SEC charges ‘Cash Flow King’ podcaster in $11...

September 26, 2023

Buffett denies rumors after Trump shares wild claim...

April 6, 2025

American Airlines fined $4.1M for dozens of long...

August 29, 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

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 4

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

      January 3, 2025
    • 5

      Australian abolitionist, Grace Forrest, receives coveted ‘Freedom from Fear’ award

      April 13, 2024
    • 6

      Top 9 Nickel-producing Countries (Updated 2024)

      April 23, 2024
    • 7

      LME Sanctions on Russian Metal Push Copper, Nickel and Aluminum Prices Higher

      April 17, 2024

    Categories

    • Business (1,027)
    • Investing (2,044)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,345)
    • 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