Surf and outdoor apparel manufacturer Quiksilver filed for chapter 11 bankruptcy protection on Tuesday.
The California brand rooted in surf, skate and snow apparel, and accessories had been trying to overhaul an organization since 2013, Chief Financial Officer Andrew Bruenjes stated in court papers.
Bruenjes reported that the brand’s downfall came due to a “fragmented” existence with regional brand inconsistencies.
Almost two-thirds of revenue comes from sales outside the U.S., according to court documents.
The Quiksilver brand was founded in Australia in 1969. It launched a women’s apparel line, Roxy, in 1990. Quiksilver also owns DC Shoes, a skateboard shoe brand.
It has some top-notch sponsored athletes, including snowboarder Travis Rice, skier Candide Thovex, surfers Dane Reynolds, Jeremy Flores, and dozens more.
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