A rise in interest rates, persistent inflation, supply chain delays, a decline in consumer demand, a shift in consumer preferences, and substantial fixed costs were all listed as challenges the company has faced.

All Quiksilver, Billabong and Volcom stores will be closing in the U.S due to a voluntary bankruptcy filed by Liberated Brands.

More than 100 Volcom, Billabong, and Quicksilver stores across the U.S. are set to close after parent company Liberated Brands filed for Chapter 11 bankruptcy.