Liberated Brands, an outdoor apparel seller that includes brands such as Quiksilver, Billabong and Volcom, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware in early February.
According to court documents, the California-based company plans to liquidate its North American business after struggling with macroeconomic shocks, supply chain issues and falling profits.
“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,” the company said in a statement upon upon filing for bankruptcy. “Macroeconomic issues, including a rapid and dramatic rise in interest rates, persistent inflation, supply chain delays, a decline in customer demand well below the historical trendline, shifting consumer preferences and substantial fixed costs placed significant pressure on Liberated’s revenue and cost structure.”
Liberated was founded in 2019 by the former management team of Volcom. The Associated Press (AP) reports that Liberated has decided to close all 124 of its U.S. brick-and-mortar stores, close corporate offices and lay off about 1,400 employees. Although these stores are closing, AP says licenses for Quiksilver, Billabong and Volcom will be transferred to Authentic Brands Group to keep making the clothes and accessories.
Gordon Brothers, a global asset firm, has begun closing sales at 122 Liberated Brands’ retail stores in the U.S., including Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder and Boardriders. Gordon Brothers reports that it is offering wholesale inventory from Liberated Brands’ business-to-business platform, with available merchandise including men’s, women’s and children’s apparel and accessories.
“We’re excited to bring the merchandise from these popular brands to market,” says Mollie Bailey, director of merchandising at Gordon Brothers. “This sale offers a unique opportunity for retailers to acquire in-demand branded products to enhance their store inventory assortment.”
Gordon Brothers says retailers should contact Bailey for wholesale inventory requests.
