Closing sales have begun at 122 retail stores operated by Liberated Brands after the company filed for bankruptcy last week.
The move affects all of Liberated’s retail fleet, including retail locations for Billabong, Roxy, RVCA and Quiksilver, among others brands in the Boardriders portfolio, according to a news release from Gordon Brothers, the firm handling Liberated’s liquidation sale.
Gordon Brothers is helping Liberated conduct a strategic review of its real estate and store leases. The company is also advising Liberated on selling its wholesale inventory including men’s, women’s and children’s apparel and accessories.
The retail fleet is currently offering storewide discounts of 20% to 40% off, and the stores’ outlet locations are offering 30% to 50% off, per the release.
Stores in Hawaii are offering discounts between 10% and 30%, according to Gordon Brothers.
Liberated handled the U.S. and Canada retail and e-commerce operations for the Boardriders portfolio through a licensing agreement with owner Authentic Brands Group. Liberated lost part of the agreement in December amid “significant liquidity challenges in 2024.”
About 1,040 retail employees will be laid off as a result of the store closures, according to Liberated’s bankruptcy filings. The company also laid off more than 360 employees due to the closure of its corporate headquarters in California.
In its bankruptcy filings, Liberated said both its assets and liabilities range between $100 million and $500 million. Its listed creditors hold unsecured claims ranging from $566 million to $3.2 billion.
