A US-based operator of popular surf, skateboarding, and swimwear retailers Billabong, Quiksilver, and Volcom has filed for Chapter 11 bankruptcy, citing macroeconomic issues such as rising interest rates, inflation, and supply chain delays. The company, Liberated Brands LLC, operates 124 retail locations across the US, which will close once the bankruptcies are completed.
Liberated Brands’ CEO Todd Hymel stated that a volatile global economy, consumer spending changes, and inflationary pressures have put significant pressure on the company’s revenue and cost structure. The company owes $83 million in secured debt and $143 million in unsecured debt.
The brands will cease accepting gift cards as payment online or in-store after February 16, but it is unclear when the physical stores will close. Liberated Brands has about $3.3 million of cash on hand, which would only support its operations for one week. The company plans to transition brand licenses to new license holders to ensure continuity and success moving forward.
Authentic Brands Groups, the global brand development company that owns the brands, stated that all licenses held by Liberated were transferred to new partners prior to the bankruptcy filing.
Source: https://eu.usatoday.com/story/money/2025/02/07/billabong-quiksilver-volcom-stores-closing-bankruptcy/78300026007