(NEW YORK) — Quiksilver, Billabong, and Volcom, known for their surf and skate products, are closing stores in the United States.
The parent company of the brick-and-mortar stores, Liberated Brands, filed voluntary Chapter 11 bankruptcy on Sunday, which will result in over 100 retail locations across the country being shuttered, according to a filing.
The company attributes its financial difficulties to several factors, including inflation demands as well as a significant change in consumer spending habits.
ABC News has reached out to Liberated Brands for comment but has not yet received a response.
“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 Financier Worldwide.
The statement continued, “Despite this difficult change, we are encouraged that many of our talented associates have found new opportunities with other license holders that will carry these great brands into the future.”
The brands themselves are expected to continue under new management, the company said in a statement.
The announcement of these store closings follows other huge department stores such as Macy’s, Kohl’s and more that are also closing their doors at locations throughout the U.S.
In January, Macy’s announced the closure of 66 Macy’s non-go-forward store locations. Macy’s said it intended to close almost 150 underproductive stores in total over a three-year period.
These closures are a part of the Bold New Chapter strategy, which was announced in February 2024, with the goal of returning “the company to sustainable, profitable sales growth,” the company said.
Kohl’s also announced last month that it would be shuttering 27 underperforming stores and all would occur by April.
“As we continue to build on our long-term growth strategy, it is important that we also take difficult but necessary actions to support the health and future of our business for our customers and our teams,” said Tom Kingsbury, Kohl’s chief executive officer, in a statement.
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