Ad
Coronado Center’s Volcom store to close as part of bankruptcy filing
The Volcom store at Albuquerque’s Coronado Center is closing due to a bankruptcy filing by its parent company.
Published
Modified
New Mexican skaters can get one last run in before Volcom closes its doors.
Volcom’s parent company, Liberated Brands, filed for Chapter 11 bankruptcy earlier this month — resulting in the liquidation of more than 100 clothing stores across the United States, including New Mexico’s own Volcom store at the Coronado Center.
The Volcom store at Coronado was covered in signs announcing its closure and store-wide sale this week. It isn’t clear when the store will close.
Coronado management did not respond to a request for comment.
Liberated Brands’ labels, including Quicksilver and Billabong, are aimed at Millennials looking for skateboard- and surfer-inspired clothing.
Liberated Brands in a news release said its team has “worked tirelessly over the last year to propel these iconic brands forward, but a volatile global economy, consumer spending changes amid a rising cost of living and inflationary pressures have all taken a heavy toll.”
CNN reported that Liberated Brands CEO Todd Hymel pointed to a “dramatic rise in interest rates, persistent inflation, supply chain delays” as pressures on the company’s costs and revenue.
But fans of the Volcom brand are not necessarily saying goodbye forever. Authentic Brands Group, which partnered with Liberated to license U.S. operations, owns the label.
Authentic told The Associated Press earlier this month that all licenses previously held by Liberated were “transitioned” before the bankruptcy filing.
“We’ve been working closely with Liberated Brands to thoughtfully transition key licenses to trusted operators within our network,” David Brooks, Authentic’s executive vice president of lifestyle brands, said in a statement to the AP.
