Cool kid sports apparel brands, Quiksilver, Billabong and Volcom, are permanently closing their U.S. stores. The brands’ license operator, Liberated Brands, announced this week that the company filed for bankruptcy. The recent bankruptcy filing stated that the company would shut down 124 U.S. locations and that includes the 35 stores in California.
A California Legacy
California has long been home to these stores that cater to the local population of skaters, surfers, and snowboarders. In fact, Volcom opened its first U.S. store right here in Los Angeles back in 2002. And the brands’ license operator, Liberated Brands, is based in Costa Mesa.
Multiple Reasons for Closures
The brands’ license operator, Liberated Brands, cited multiple reasons for the closures, including high interest rates, unfortunate supply chain issues, and increasing competition from low-cost fast-fashion retailers.
“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.
Morphing into Something New
However, the iconic surf, skate, and snowboard brands aren’t going away forever. The good news is that Quiksilver, Billabong, and Volcom will continue to manufacture and sell branded merchandise online under different partners. Plus, since the brands are being transitioned to new operators, there is a chance that they may open new stores.
Additionally, the international business units are unaffected by the bankruptcy filing. And the company stated that it is currently looking for a buyer for its Australian, European, Japanese, and Canadian business units.
Go hang ten this weekend in honor of these legendary and beloved sports brands.