A year after emerging from bankruptcy, surfwear brand Quiksilver has a new name and is reporting growth in key brands, the company said Wednesday. Boardriders, the new name of the parent company of Quiksilver, Roxy and DC Shoes, will keep its branded stores as-is while expanding on its concept Boardrider stores. The Huntington Beach, Calif.-based Quiksilver filed for Chapter 11 bankruptcy protection in September 2015. In October that year, the company received court approval for a $175 million financing package with Oaktree Capital Management, which is now the majority owner.
Total Retail's Take: It seems a fresh start has breathed new life into the Quiksilver brand, as well as its parent company, Boardriders. The positive takeaway here is that with the right cost structure and management team in place, a turnaround is possible — even for a distressed company like Quiksilver. In today's retail environment, where it seems like liquidations and Chapter 11 bankruptcy filings are a daily occurrence, a potentially positive ending for Quiksilver could be an example for other brands to follow. The momentum has started, with the Quiksilver brand seeing high single-digit growth while Roxy is seeing double-digit growth.