Surfing Outfitter Quiksilver Declares Bankruptcy, Will Close 27 Stores

[mvcg66b3r]

If you happen to have a gift card for Quiksilver sitting around idle, don’t use it as a tiny surfboard for your fingers anymore: it’s time to redeem it. The company filed for Chapter 11 bankruptcy this week and is closing about 20% of its stores. However, the company received approval for a $175 million loan that will let it stay in business while it restructures.

They plan 27 store closings, out of a total 122 stores. These include brands Quiksilver, lady-surfer brand Roxy, and skateboarding brand DC. All of these brands have retail stores as well as discount “factory outlets,” and the company will close some of both store types.

http://consumerist.com/2015/09/11/surfing-outfitter-quiksilver-declares-bankruptcy-will-close-27-stores/