Quiksilver Files Bankruptcy

Quiksilver (Huntington Beach, Cali.) filed for chapter 11 bankruptcy this week. In an effort to revitalize business, the retailer plans to restructure the company, which includes closing 27 stores throughout the country, reports The Wall Street Journal.

It will be closing stores across all its brands including seven Quiksilver stores, nine Quiksilver Outlet stores, seven DC Outlet stores, one Roxy store, two Boardrider stores and one Waterman store. The locations of the stores slated for closure have been announced and span from Annapolis, Md., to Honolulu.

The company plans to hold going-out-of-business sales, which will last through the end of the year at the stores that are closing. It has hired Hilco Merchant Resources LLC (Chicago) and Gordon Brothers Retail Partners LLC (Boston) to oversee the liquidation process.