A rise in interest rates, persistent inflation, supply chain delays, a decline in consumer demand, a shift in consumer preferences, and substantial fixed costs were all listed as challenges the company has faced.

Liberated Brands, which has operated stores for surfer and skater-inspired labels like Quiksilver, Billabong and Volcom, filed for bankruptcy this week — and plans to shutter its locations across the U.

All Quiksilver, Billabong and Volcom stores will be closing in the U.S due to a voluntary bankruptcy filed by Liberated Brands.