Bankruptcy of Liberated Brands and Closure of Stores
Liberated Brands, the company owning popular brands like Billabong, Quicksilver, Volcom, and Roxy, will close 120 stores in the US after filing for Chapter 11 bankruptcy. The bankruptcy is attributed to the rise of fast fashion brands, high interest rates, and inflation.
Key Points
- Liberated Brands to close 120 stores in the US after filing for Chapter 11 bankruptcy
- Blamed bankruptcy on the emergence of fast fashion brands, high interest rates, and inflation
- 1,400 employees laid off, international offices to be shuttered
- Brands like Billabong, Quicksilver, Volcom, and Roxy sold to other retailers
- Company faced supply chain issues and inflation affecting consumer spending