Liberated Brands, the operator behind Quiksilver, Billabong, and Volcom, filed for Chapter 11 bankruptcy in February 2025, leading to the closure of all 124 U.S. retail stores and the layoff of approximately 1,400 employees. The move follows years of financial pressure exacerbated by the rise of fast fashion, declining discretionary spending, and shifting consumer behavior.
While retail has seen no shortage of high-profile bankruptcies in recent years—including J.Crew, Bed Bath & Beyond, and Party City—the collapse of Liberated Brands reflects broader corporate challenges that extend beyond apparel and retail.
The structural issues behind the…
