News Volcom at Disney Springs set to close

Gringrinngghost

Gringrinngghost

Well-Known Member
Original Poster

Librated Brands Statement on Bankruptcy Filing​

The company released the following statement on Monday afternoon:

Liberated Brands Files Voluntary Chapter 11 Petitions

Company’s 100-Plus U.S. Retail Locations Will Be Closing; Status of Hawaii Retail Locations Currently in Flux

New York, NY — February 3, 2025 — Liberated Brands announced that it filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to implement an orderly monetization and disposition of its businesses. The company has been in the process of transitioning its brand licenses to new license holders as part of a management transition to ensure continuity for the brands and their success moving forward.

This filing does not impact the future of the brands, as they have already transitioned to new, well-capitalized partners who are actively investing in their growth and long-term success.

Liberated’s 100-plus stores in the U.S. will remain open and continue serving customers as the company begins its efforts to effectuate the closure of its U.S. retail locations. Through the filing of customary motions with the Court, Liberated intends to uphold its commitments to customers, employees, and partners, including continued payment of employee wages and benefits. The Chapter 11 process will be financed by JP Morgan.

A liquidation sale process, conducted by Gordon Brothers Group, has commenced at Liberated’s U.S. retail locations. Following the liquidation, Liberated’s 100-plus retail locations in the U.S. will be closing. The status of the company’s nine retail locations in Hawaii is currently being negotiated.

“The Liberated team has worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer spending changes amid a rising cost of living, and inflationary pressures have all taken a heavy toll,” Liberated Brands said in a statement. “Despite this difficult change, we are encouraged that many of our talented associates have found new opportunities with other license holders that will carry these great brands into the future.”

Liberated has retained Kirkland & Ellis, LLP and AlixPartners LLP to facilitate the Chapter 11 restructuring process. JP Morgan has retained Morgan, Lewis & Bockius LLP and Berkeley Research Group, LLC.
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Statement by Liberated Brands cite: https://shop-eat-surf-outdoor.com/news/liberated-brands-files-for-chapter-11-bankruptcy/603586

CC: @wdwmagic
 
Stitchon

Stitchon

Well-Known Member
Sirwalterraleigh said:
…I have a feeling that the frequencies of closures will increase dramatically
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Why exactly are you saying that? Volcom's parent company - which also owns the terminally distressed Quiksilver and Billabong - is bankrupt. It has nothing to do with Disney Springs. How many times does Steve need to tell everyone that the Disney Springs tenants are often the top performing locations in their respective chains? When a tenant closes, a vast majority of the time it's because of their own corporate failings. Billabong will be out at The Mall at Millenia, but I doubt anyone is predicting future doom for them.
 
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