Liberated Brands, which manages operations for multiple well-known surf and outdoor brands, filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware earlier this week, according to reporting in Shop Eat Surf and other publications. Closing sales at all of the company’s 122 stores have begun, managed by Gordon Brothers.
The brands themselves, including RVCA, Volcom and Billabong, are still owned by Authentic Brands Group, and they will be moving to new wholesale licensees in North America. Liberated Brands’ unsecured creditors include a range of overseas clothing manufacturers; the largest, Ningbo Jehson Textiles in China, is owed $3.2 million, according to court documents cited by Shop Eat Surf.
In addition to managing the closing sales, Gordon Brothers is providing real estate advisory services to Liberated Brands, including a strategic portfolio review to analyze and maximize the value of the store leases. Gordon Brothers also is including the wholesale inventory from Liberated brands’ B2B platform, including Volcom, Billabong, Quiksilver, Roxy, Honolua Surf, RVCA, Spyder and Captain Fin Co.
“Liberated Brands has a strong history of connecting with consumers through its brand cultivation, sports marketing and immersive storytelling, “said Durien Sanchez, Managing Director, Retail at Gordon Brothers in a statement. “The merchandise across all stores is expected to sell out with these discounts, so we encourage customers to take advantage of these sales sooner rather than later.”
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