A rise in interest rates, persistent inflation, supply chain delays, a decline in consumer demand, a shift in consumer preferences, and substantial fixed costs were all listed as challenges the company has faced.
The company listed debt of $226 million, with approximately 1,400 employees laid off.
He went on to say that while profits rose during the COVID-19 pandemic as customer demand for outdoor apparel and online shopping spiked, shopping in-person at the stores never fully bounced back.
The brands, rooted in the surf, snow, and skate culture, will continue to produce clothing despite the more than 120 storefront closures.
Read More Details
Finally We wish PressBee provided you with enough information of ( Quicksilver, Billabong and Volcom stores closing after bankruptcy filing )
Also on site :