Australian magnate Dick Smith has issued a grim warning for the future of iconic Billabong and Quiksilver, and outlined the key mistake made as the US firm selling the iconic surfwear files for bankruptcy.
Liberated Brands makes and sells Australian-founded surfwear brands Billabong, Quiksilver and Roxy, and will close 120 stores in the US and Canada after filing for bankruptcy this week.
US licensor Authentic Brands said the bankruptcy did not affect the brands’ future, and new partners would be found to make the products.
In Australia there are 18 Billabong stores and 13 Quiksilver stores – which also stock the sister brand Roxy.
NewsWire has been told by one of the American interested parties that the insolvency focuses on the…
