The popular action sports clothing company Quiksilver had filed for bankruptcy in September 2015, but their efforts to fix their debts are now being publicly reported such as loan requests.
Quiksilver is the parent company to companies Roxy and DC shoes co. Both are popular clothing companies in the action sports industry with big names sponsored by the brands like Travis Rice and Jeremy Flores. Quiksilver is most known for their surf/snow athletes and previously had a skateboard team, but cut the team back in 2013.
DC sponsors mostly skateboarders, but once Quiksilver filed for bankruptcy, lead sponsor Rob Dyrdek had his contract rejected after a 20+ year relationship with the brand. DC's arguably most popular athletes are driver Ken Block, skateboarder Danny Way, and of course Dyrdek. Dyrdek's popularity is not only in the skateboard world with international competitions he created (Street League Skateboarding), but in the TV world with multiple shows over the years on MTV.
Here is Dyrdek's show Fantasy Factory which was a popular show on MTV from 2009-2015 after Rob & Big from 2006-2008. Not only was DC getting regular exposure with Dyrdek constantly covered in their brand during the shows, but many of his separate videos advertised the brand as well.
Quiksilver's earnings per share declined by 22% in the last quarter until filing for bankruptcy retreating it by 79%. It is a difficult time for the brand, but they confirmed the debt does not include its European and Asia-Pacific markets. Being such a large company with international ties, this bankruptcy could potentially help it bounce back from debt and start anew.
Many huge companies have gone bankrupt in the past and came out better than before. Hopefully Quiksilver will be one of those companies.