new York
Cnn
–
Quiksilver, Billabong and Volcom, formerly a magnet for millennials in search of surfer -inspired clothing and skateboarding, definitively closes their stores.
More than 100 locations across the United States are stopping in the coming weeks after their operator, Liberated Brands, have filed a bankruptcy, accused of rapid fashion competitors and other economic factors for its financial difficulties.
Liberated has “worked tirelessly in the past year to propel these emblematic brands, but a global volatile economy, changes in consumption spending as part of a cost of living and inflationary pressures have all made a heavy price “Said the company in a statement.
In bankruptcy files, CEO TODD HYMEL said that “spectacular increase in interest rates, persistent inflation, delays in the supply chain” exercised “significant pressure” on the cost and revenues released , and put part of the blame on the fast rivals of fashion which allow buyers “at a lower cost of” cheap, quickly and easily order clothes of low quality clothes “, while being able to adapt Faster at micro-tendencies than brick and mortar companies are too slow for sale.
Despite the disappearance and Liberated store closures, the three brands do not disappear. The groups of authentic brands, the mother company of Clothers, pass the licenses to another operator to continue to make clothes.
Authentic declared in a press release to CNN that stores were “overinbliated” and “overwhelmed by obsolete and sub-performative places” and that the assigned clothing lines will be sold in specialized retailers, department stores and online “guaranteeing a more agile and more resistant future. “”
The closures only add to a growing list of retailers who closed the locations this year, in particular Kohl And Macy. In total, more than 15,000 stores are expected to close in 2025 – more than double the amount of last year, according to Coresight Research.