Home / Knowledge / News / Apparel/Garments / Quicksilver files for bankruptcy in US
Quicksilver files for bankruptcy in US
11
Sep '15
Surfwear company Quiksilver has filed for Chapter 11 bankruptcy protection for its US division, according to media reports. It plans to continue with an ongoing store-closing plan in the Americas.

The company based in Huntington Beach, California,said that its European and Asia-Pacific businesses are going strong and are not part of the bankruptcy filing.

"After careful consideration, we have taken this difficult but necessary step to secure a bright future for Quiksilver," said CEO Pierre Agnes in a statement.

Quiksilver Inc. listed assets of more than $100 million and liabilities of more than $500 million in the filing.

Chapter 11 bankruptcy allows a company to continue operating while it executes a reorganization plan. Quicksilver asked the court to allow Oaktree Management to provide more than $175 million in financing for the company as part of the "debtor-in-possession" plan.

The brand, founded in 1969 in Australia, rode America's fascination with the surfer lifestyle to become a retail powerhouse. After a golden decade in the 1990s, Quiksilver has faced rising competition, particularly in the US and strategic blunders took their toll on the company. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Apparel/Garments | On 26th May 2017

Christian Dior, Nike top apparel companies - Forbes

Christian Dior, Nike, and Inditex have topped Forbes' 2017 Global...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search