In response to reports this week that Quiksilver USA was reorganising under a ‘Chapter 11’ procedure, Quiksilver South Africa have issued the press release below, which details that it will not affect business back home in Mzansi.
Quiksilver team rider, Mikey February will continue to blast big airs with the mountain and wave logo on the nose of his boards.
For immediate release
9 September 2015
Durban – Quiksilver USA has decided to reorganise under a “Chapter 11” procedure. We would like to assure all customers, retailers and the general public that the reorganisation of the USA entity will have no impact on the company’s organisation in Europe which is the Head Office for South Africa. The European and Asia Pacific entities remain profitable, South Africa is part of the European network. In addition, the South African entity is self funding and sources and produces product for the South African market.
Following on the declaration of the “Chapter 11” procedure Quiksilver International has a new financial partner Oaktree Capital Management (Oaktree) investment fund. Oaktree will provide Quiksilver with stronger financial means in the USA and back the company’s development as a whole.
The procedure will in no way distract us from Quiksilver’s main objective which is to continue to develop our business in South Africa through the Quiksilver, Roxy and DC Shoes brands. Our customers believe in us and we will continue to deliver quality products that meet our customer’s needs and passions. For Quiksilver South Africa it is business as usual.
For any queries regarding the matter, please contact: firstname.lastname@example.org
Quiksilver South Africa
About Quiksilver Inc:
Quiksilver, Inc., one of the world’s leading outdoor sports lifestyle companies, designs, produces and distributes branded apparel, footwear and accessories. The company’s apparel and footwear brands, inspired by a passion for outdoor action sports, represent a casual lifestyle for young-minded people who connect with its boardriding culture and heritage. The company’s Quiksilver, Roxy, and DC brands have authentic roots and heritage in surf, snow and skate. The company’s products are sold in more than 100 countries in a wide range of distribution, including surf shops, skate shops, snow shops, its proprietary Boardriders Club shops and other company owned retail stores, other specialty stores, select department stores and through various e-commerce channels. Quiksilver’s corporate headquarters are in Huntington Beach, California.