In a significant move impacting the surf and skate apparel market, Billabong, Volcom, and Quiksilver, brands owned by Liberated Brands, have announced the closure of multiple retail stores as part of a restructuring effort following bankruptcy filings. The company cited declining sales as a primary reason for the closures, which will affect locations across the Bay Area and beyond. According to the company, approximately 30 stores will shut their doors, resulting in a loss of jobs for many employees. A spokesperson for Liberated Brands stated, “We are committed to repositioning our retail strategy and ensuring that our core brands can thrive in this challenging market.” The Bay Area has been particularly hard hit, with flagship stores in major shopping districts shutting down. The closures reflect broader struggles within the retail industry as consumer habits shift, particularly towards online shopping. This decision comes as part of a larger trend in the industry, with many brands facing similar fates as they adapt to market conditions. In efforts to regain financial stability, Liberated Brands is looking to refocus its strategy and cut costs, which may include additional layoffs and restructuring plans in the coming months.
Billabong, Volcom, and Quiksilver to Close Stores Amid Bankruptcy Challenges
