Huntington Beach, Calif.-based Quiksilver Inc.’s stock will be removed from listing on the New York Stock Exchange on Oct. 12.
The NYSE reported the planned action to the Securities & Exchange Commission in a filing Tuesday.
The action sports apparel-maker and retailer filed for Chapter 11 bankruptcy protection Sept. 9, following a rugged stretch for the company and broader industry sector. The company’s stock was suspended from trading at that time.
The bankruptcy involves Quiksilver’s U.S. business and included a deal struck for $175 million in debtor-in-possession financing from Oaktree Capital Management and Bank of America. The company is also in the process of shuttering underperforming stores as it winds through its bankruptcy proceedings.
Quiksilver Inc. owns a multibrand apparel portfolio with its namesake line, Roxy and DC Shoes as its three core labels and also operates company-branded stores. Much of its more recent troubles date back to the failed acquisition of France-based ski and snowboard gear-maker Skis Rossignol. The company paid $320 million for Rossignol in 2005 only to sell it three years later for $147 million. Debt from the acquisition left Quiksilver exposed when the recession came and an increasingly competitive landscape placed pressures on the overall action sports industry.