LIBERATED Brands is liquidating its remaining inventory after announcing the closures of all Quiksilver, Billabong, and Volcom stores.
The company is also closing its international offices and laying off 1,400 employees.
Three iconic surfwear brands will be closing all retail locations in the US and liquidating their products at low pricesGettyLiberated Brands, the company responsible for operating eight boardsport fashion brands including Quiksilver, Billabong, and Volcom, will conduct liquidation sales to sell off its remaining inventory.
Those three brands combine for 122 total retail locations in the United States, all of which are set to close.
Liberated CEO Todd Hymel blamed the company’s downfall on the rise of fast fashion.
The brands, known for their surf and skate-themed apparel, were operated by Liberated, but remain owned by the Authentic Brands Group.
Authentic owns a wide portfolio of major fashion brands, including Aéropostale, Forever 21, and Reebok.
Following the closure of all stores, Authentic plans to keep the brands alive by finding different wholesale distributors to put their products back on the market.
Liberated filed for Chapter 11 bankruptcy in the U.S. Bankruptcy court on February 2.
Liberated, which owes $226 million to various debtors, was licensed by Authentic Brands in 2023 to operate wholesale licenses, retail, and e-commerce.
In December 2024, less than two years after the licensing deal, Authentic revoked those licenses from Liberated, citing inadequate resources to invest in the brands.
Investment firm Gordon Brothers is assisting in the strategic review of Liberated’s real estate and leases.
They are also advising the wholesale liquidation of its inventory.
Discounts range from 20% to 40%, while outlet locations are offering discounts as high as 30% and 50%.
Bankruptcy filings revealed that Liberated’s total assets and liabilities ranging between $100 million and $500 million.
The company’s creditors hold unsecured claims as high as $3.2 billion.
It is unconfirmed whether Quiksilver and Billabong’s retail locations will close in their native Australia.
READ MORE ON STORE CLOSURES
The closure of Quiksilver, Billabong, and Volcom follows other major store closures at a time when retail businesses are struggling to stay afloat.
Macy’s announced earlier in February that it would be closing 66 of its retail locations, following the announced closures of two stores in Michigan.
The company announced that it would be shuttering 150 “underproductive” stores over a three year period.
Kohl’s, another once-popular major retailer, announced that it would be closing 27 underperforming stores across the United States.
The chain currently operates 1,150 stores in the US.
The CEO had previously admitted that the chain had made some shortsighted mistakes.
Read More Details
Finally We wish PressBee provided you with enough information of ( Liquidation sales up to 50% off underway at Quiksilver and Billabong as CEO confirms all 122 stores will close )
Also on site :