Billabong, Quiksilver and Volcom stores to close in the US, blaming fast-fashion rivals

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http://ktla.com/news/local-news/billabong-quiksilver-and-volcom-stores-to-close…

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The first commercial TV station licensed west of the Mississippi, Los Angeles-based KTLA has been keeping Southern Californians informed since 1947.

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Some iconic surf shops are permanently closing more than 100 stores in the US due to their operator, Liberated Brands, filing for bankruptcy. KTLA’s David Lazarus reported that Liberated Brands blames the bankruptcy on fast-fashion competition and an “uncertain economy.” The brands that will be closing their doors include Billabong, Quiksilver and Volcom. In addition to store closure, Fortune reported that Liberated Brands listed a debt of $226 million and laid off about 1,400 employees as part of its shutdown. “The Liberated team has worked tirelessly over the last year...