Quiksilver, Billabong and Volcom brick-and-mortar shops, identified for his or her seashore and outside attire, are closing, their father or mother firm stated.
Costa Mesa-based Liberated Manufacturers stated in a chapter submitting this week it could shut down 124 areas. The corporate operates 35 shops in California, together with areas in Camarillo, Commerce and Northridge.
“The Liberated group has labored tirelessly during the last yr to propel these iconic manufacturers ahead, however a risky international economic system, shopper spending modifications amid a rising value of dwelling and inflationary pressures have all taken a heavy toll,” the corporate stated in a press release.
Liberated stated it confronted “a deadly mixture of considerably decrease income than anticipated throughout a interval of elevated working bills and integration prices.”
The corporate had pretax losses of $12.5 million in 2024, in contrast with a pretax revenue of $2.3 million in 2022, in accordance with its submitting.
Liberated Manufacturers cited a number of causes for the closures, together with excessive rates of interest, provide chain points and competitors from low-cost fast-fashion retailers.
“Customers can cheaply, shortly and simply order low-quality clothes clothes from fast-fashion powerhouses and have such items delivered inside days,” Liberated Chief Government Todd Hymel stated within the submitting. “These fast-fashion corporations can cater to micro-trends versus the normal seasonal trend-forecasting retail mannequin.”
The long-lasting surf and skate and snowboard manufacturers aren’t going away eternally.
Quiksilver, Billabong and Volcom — which opened its first U.S. retailer in Los Angeles in 2002 — will proceed to fabricate and promote branded merchandise on-line beneath completely different companions, Liberated stated.
“Regardless of this tough change, we’re inspired that lots of our gifted associates have discovered new alternatives with different license holders that may carry these nice manufacturers into the long run,” Liberated stated in its assertion.
The shop closings are simply the newest to hit the retail trade. Giant malls comparable to Kohl’s and Macy’s have of poorly performing areas within the final yr.
Different companies with large brick-and-mortar portfolios, comparable to Categorical and Rue21, have additionally filed for Chapter 11 — a type of chapter that permits companies to restructure their money owed with out totally closing.
