Quiksilver Revamps U.S. Stores Post-Bankruptcy

by San Antonio Attorney

The Huntington-based company officially emerges from bankruptcy as they attempt to entice consumers through an interactive shopping system through the new Boardrider surf shops.  This implementation is one way the company can reconnect to its fan base fresh from its bankruptcy filing.  This move will be effective on Thursday.

Quiksilver has gained a huge fanbase both in the United States and the other parts of the world.  They are also the main reason why the Oaktree Capital Management investors filed for bankruptcy and came up with a $175 million investment, according to David Tanner, whose new position will be a ‘chief turnaround officer’.

Approximately five months after Quiksilver filed for bankruptcy, the court approved the turnaround plan.

Established in 1976, following Bob McKnight and Jeff Hakman’s procurement of licensing from Alan Green in Australia, the surfers launched the line in a Newport Beach garage.  McKnight had peddled the boardshorts in his VW bus and delivered items to some surf shops along the coastline.

The company went into a downward spiral when they went public years later.  A succession of wrong moves and increased pressure from the stock holders contributed more to the financial problem.

Previously dubbed as the first top surfwear brand in the retail industry after garnering billions in revenue in 2000s, it had been an emotional roller-coaster for the company’s situation.

Quiksilver invested in skiwear lines and bought Rossignol and even invested in Cleveland Golf for a half ownership.  Climate change played a part in the downfall as a no-snow season along with recession contributed to a tremendous loss of $400 million.

As Oaktree is now a majority owner, it is now a private corporation.  The store for boardriders will invest in mixed-entertainment aside from sales.  It will utilize a barbershop, live music and a bar within the store premises and a carousel will rotate clothing goods on the ceiling inside the store, according to Greg Healy, Company President.

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