Moody’s Investors Service said more fashion companies are starting to feel the strain as the default rate forecast “skyrockets.”
As part of its ongoing collaboration with Repreve, the surf lifestyle brand has advanced its eco-friendly initiative.
Under chief executive officer and investor Bernard Mariette, the company will use an $18 million cash infusion to grow its global business.
The parent to Quiksilver and now Billabong finally brings its retail and hangout concept Stateside with a Malibu store.
The new purchase price, roughly $160 million, would create an action sports behemoth with some $2 billion in sales.
The owner of Quiksilver is also putting chief financial officer Thomas Chambolle in charge of Europe, the Middle East and Africa.
Several memorials will be held around the world for the executive who was an important figure in the surfing community.
Kelly Slater said “I’m praying for a miracle,” in an Instagram post.
Dave Tanner is set to oversee an action sports empire of more than 600 stores and roughly 10,000 workers globally in the company’s buy of Billabong.
Billabong has been in the midst of a turnaround strategy for the past several years.
The company, which said it has been on an aggressive path to a turnaround following its emergence from bankruptcy last year, also has plans to open the first Boardriders store in the Americas in Malibu.