All Quiksilver, Billabong and Volcom stores will close in the US
Quiksilver, Billabong and Volcom, once a magnet for Millennials looking for surfer and skateboard-inspired clothing, are permanently closing all of their stores.
More than 100 locations across the United States are shutting down in the coming weeks after their operator, Liberated Brands, filed for bankruptcy, blaming fast-fashion rivals and other economic factors for its financial struggles.
Liberated has 'worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer spending changes amid a rising cost of living and inflationary pressures have all taken a heavy toll,' the company said in a statement.
In bankruptcy filings, CEO Todd Hymel said that a 'dramatic rise in interest rates, persistent inflation, supply chain delays' put 'significant pressure' on Liberated's cost and revenue, and laid some of the blame on fast fashion rivals that let shoppers 'cheaply, quickly, and easily order low-quality clothing garments,' while being able to more quickly adapt to micro-trends that brick-and-mortar companies are too slow to sell.
Despite Liberated's demise and store closures, the three brands aren't disappearing. Authentic Brands Groups, the clothiers' parent company, is transitioning the licenses to another operator to keep making the clothes.
Authentic said in a statement to CNN that the stores were 'overinflated' and 'burdened with outdated and underperforming locations,' and that the affected clothing lines will be sold at speciality retailers, department stores and online thus 'ensuring a more agile and resilient future.'
The closures only add to a growing a list of retailers shuttering locations this year, including Kohl's and Macy's. In total, more than 15,000 stores are expected to close in 2025 — more than double the amount of last year, according to Coresight Research.
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