Iconic surf shop brands Billabong, Quiksilver, and Volcom are closing over 100 stores in the US due to bankruptcy. The company Liberated Brands blames fast-fashion competition and a “volatile global economy” for its financial struggles. However, Authentic Brands, which owns these brands, plans to revive them by shifting focus to specialty stores, department stores, and online sales.
Source: https://ktla.com/news/local-news/billabong-quiksilver-and-volcom-stores-to-close-in-the-us-blaming-fast-fashion-rivals