Billabong, Volcom, and RVCA brands have filed for Chapter 11 bankruptcy, citing financial struggles. Liberated Brands, the operating company behind these iconic brands, has estimated assets and liabilities ranging from $100 million to $500 million. Overseas clothing manufacturers, including Ningbo Jehson Textiles in China, are among the largest unsecured creditors.
Authentic Brands Group, which owns these brands, originally licensed them to Liberated Brands but pulled the licenses globally in December 2024 due to concerns over resources. David Brooks, Authentic executive vice president of action and outdoor sports, lifestyle, stated that the company remains focused on supporting partners like Liberated Brands while transitioning licenses to trusted operators.
New wholesale licensees for Billabong, Volcom, and RVCA include O5 Apparel, The Levy Group, and Quetico Lifestyle Brands. The brands also have a large retail operation with around 100 stores in the US, which began liquidation sales last week. Authentic believes that rationalizing physical stores will help create more value and strengthen their presence across specialty retailers, department stores, and e-commerce.
Source: https://shop-eat-surf-outdoor.com/news/liberated-brands-files-for-chapter-11-bankruptcy/603586