Quiksilver, Billbong and Volcom’s closure of US stores ncvrs.com

The liberated brands have submitted a bankruptcy procedure for chapter 11 this weekend and strive to close their US retail stores where they sold brands such as Quiksilver, Billbong and Volcom.

In a press release on Monday, the company stated that it had submitted to “implement the revenue generation and disposition” of its businesses. It submitted a motion to close about 124 stores to the Delaware district as part of bankruptcy.

According to the liberated estimates, the petition of the bankruptcy judge in Chapter 11, according to estimates between $ 100-500 million. The estimated obligations were the same.

Billbong shop in the New York City Soho neighborhood. (Michael Brochstein/Sopa Images/LightROCKet with Getty Images/Getty Images)

The company said American stores would remain open, “when the company starts efforts to close the US retail sites”, but eventually there would be shutters after their liquidation sales have been completed. There is also a liberated nine locations in Hawaii, whose status is “currently discussed” according to the edition.

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CEO Todd Hymel stated in a court announcement that “macroeconomic issues, including rapid and dramatic growth of interest rates, long -term inflation, retention chain delay, decrease in customer demand well below historical trend, change consumer preferences and significant fixed costs “He was strongly considering the company’s finances.

Getting rid of the licenses owned by Quiksilver, Billbong, Roxy, RVCA and some other authentic brands were held The brands have been for Volcom since the end of 2023, Hymel said in the announcement. In North America, the liberated licenses to operate Volcom, RVCA and Billbong were terminated last December “as a result of liberated licenses”, according to the liberated CEO.

From the end of 2023, the liberated licenses were licensed by Quiksilver, Billbong, Roxy, RVCA and some other authentic brands. (Dan Hidbrchts / Bloomberg through Getty Images / Getty Images)

According to court submissions, these licenses have been transferred to new operators, meaning that consumers can continue to obtain these clothing brands.

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“The rare occasion when a partner is unable to fulfill its commitments, Authentic goes through the license,” said David Brooks, executive vice president of Authentic Brands, Fox Business. “For this purpose, we work closely with the liberated brands to give a thoughtful temporary key licenses to reliable operators within our network.”

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According to Brooks, the liberated American business fleet is “over-infected, outdated and underperforming places” and “is likely to be rationalized, allowing brands to create greater value and strengthen their presence between special retailers, stores and e-commerce that feel more and more.

According to liberation, the liquidation of US stores has already begun.