
Quiksilver, Billabong and Volcom stores across the US will close as operator files for bankruptcy
NEW YORK (AP) — Outdoor apparel seller Liberated Brands, which has operated stores for surfer and skater-inspired labels like Quiksilver, Billabong and Volcom, filed for bankruptcy this week — and plans to shutter its locations across the U.S.
Liberated filed for Chapter 11 bankruptcy protection in Delaware court on Sunday. In court documents, the California-based company said it would be winding down and liquidating its North American business after struggling with a series of macroeconomic shocks, supply chain troubles and falling profits due to 'fast fashion' rivals.
'The Liberated team 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,' Liberated Brands said in a statement.
According to court filings, Liberated has decided to close all 124 of its U.S. brick-and-mortar stores, close its corporate offices and lay off nearly 1,400 employees. The liquidation sale process is already underway — and the company confirmed in a Monday press release that more than 100 stores will close after completion. But the exact timing is still unclear. The status of nine Hawaii locations are still in negotiations, Liberated said.
While Liberated is working to shutter the vast majority — if not all — of its U.S. stores, popular brands like Quiksilver, Billabong and Volcom aren't going away. Those and other labels are owned by Authentic Brands Group, which partnered with Liberated to license U.S. operations.
Authentic confirmed to The Associated Press on Friday that all licenses previously held by Liberated were transitioned to new partners prior to the bankruptcy filing.
'We've been working closely with Liberated Brands to thoughtfully transition key licenses to trusted operators within our network,' David Brooks, Authentic's EVP of action and outdoor sports, lifestyle, said in a statement. Brooks added that Liberated's U.S. store fleet was 'overinflated' and 'burdened with outdated and underperforming locations' — and that physical U.S. locations 'will likely be rationalized' in the future, perhaps with a stronger presence through department stores or e-commerce platforms.
Beyond Quiksilver, Billabong and Volcom, Liberated has also operated stores or sold apparel for brands like Spyder, RVCA, Roxy and Honolua.
Back during the height of the COVID-19 pandemic, as more and more consumers turned to outdoor activity or leisure apparel, Liberated reported soaring demand. But the company later struggled to keep up with larger macroeconomic headwinds — like inflation, supply chain disruptions and slowing customer demand, Liberated CEO Todd Hymel said in a sworn declaration.
That 'combination of macroeconomic shocks' resulted in a 'lethal combination of significantly lower revenue,' Hymel wrote. Brick-and-mortar retails also continued to struggle after online shopping skyrocketed during the pandemic, he added. And he also pointed to the impact of 'fast fashion' on the industry.
'Consumers can cheaply, quickly, and easily order low-quality clothing garments from fast fashion powerhouses and have such goods delivered within days,' Hymel said — noting that Liberated and others have 'suffered from decreased profit margins after losing part of their overall market share and pricing power to fast fashion.'
Beyond the U.S., Liberated says it sold apparel to customers in more than 100 countries to date. This week's bankruptcy documents note that the company currently operating regional headquarters in North America, Europe, Japan and Australia. But, in addition to winding down its North American business, court filings the company is also anticipating one or more sales of other operations worldwide 'either on a going-concern or liquidation basis.'
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