Quiksilver, Billabong and Volcom brick-and-mortar shops, identified for his or her seaside and outside attire, are closing, their mum or dad firm mentioned.
Costa Mesa-based Liberated Manufacturers mentioned in a chapter submitting this week it will shut down 124 areas. The corporate operates 35 tales in California, together with areas in Camarillo, Commerce and Northridge.
“The Liberated workforce has labored tirelessly during the last yr to propel these iconic manufacturers ahead, however a unstable world financial system, client spending adjustments amid a rising price of residing and inflationary pressures have all taken a heavy toll,” the corporate mentioned in a press release.
Liberated mentioned it confronted “a deadly mixture of considerably decrease income than anticipated throughout a interval of elevated working bills and integration prices.”
The corporate had pre-tax losses of $12.5 million in 2024, in comparison with a pre-tax revenue of $2.3 million in 2022, based on 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- vogue retailers.
“Customers can cheaply, rapidly and simply order low-quality clothes clothes from fast-fashion powerhouses and have such items delivered inside days,” Liberated Chief Govt Todd Hymel mentioned within the submitting. “These fast-fashion corporations can cater to micro-trends versus the standard seasonal trend-forecasting retail mannequin.”
The long-lasting surf and skate and snowboard manufacturers aren’t going away perpetually.
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 totally different companions, Liberated mentioned.
“Regardless of this tough change, we’re inspired that a lot of our proficient associates have discovered new alternatives with different license holders that can carry these nice manufacturers into the longer term,” Liberated mentioned in its assertion.
The shop closings are simply the newest to hit the retail trade. Giant malls like Kohl’s and Macy’s have closed dozens of poorly performing areas within the final yr.
Different companies with huge brick-and-mortar portfolios, corresponding to Specific and Rue21, have additionally filed for Chapter 11 chapter — a type of chapter that permits companies to restructure their money owed with out absolutely closing.