Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Retailing

Quiksilver Plan Confirmed

The U.S. Bankruptcy Court entered an order confirming Quiksilver's Third Amended Joint Chapter 11 Plan of Reorganization. Pierre Agnes, chief executive officer of Quiksilver, states, "Today marks a new beginning for Quiksilver, ROXY, and DC Shoes. We will emerge as a revitalized and stronger company with experienced leadership, rationalized operations, a clean balance sheet and a world-class partner in Oaktree, who brings additional strategic and operational expertise to our company. The reorganization plan we have put in place provides us with the strong long-term financial foundation to fuel the success of our brands globally and positions us well to reassert our leadership position in the action sports industry." Once the Plan becomes effective, funds managed by Oaktree Capital Management will convert substantial existing United States debt holdings into a majority of the stock in the reorganized company. This specialty clothing retailer filed for Chapter 11 protection on September 9, 2015, listing $1.3 billion in pre-petition assets.

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