Home > Uncategorized > Wipeout: Quiksilver files for Chapter 11 bankruptcy in U.S.

Wipeout: Quiksilver files for Chapter 11 bankruptcy in U.S.

Quiksilver files for bankruptcy

Roxy sandals are displayed at a Quiksilver store in Santa Monica. (Francine Orr / Los Angeles Times)

la times

By ANDREW KHOURI

Iconic surfwear company Quiksilver filed for bankruptcy for its U.S. operations after struggling for years in a changing retail landscape.

The Huntington Beach firm announced late Tuesday that it is seeking Chapter 11 protection and on Wednesday delayed the filing of its third-quarter financial results.

Action-sports-oriented Quiksilver has struggled to appeal to consumers who don’t surf, skateboard or snowboard. And it was further hurt by a shift toward fast-fashion retailers such as H&M and Forever 21.

So far this year, the company’s stock has tumbled nearly 80%. In July, the firm was warned it was in danger of being delisted.

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