The company said in a Monday press release that it filed for bankruptcy to “implement an orderly monetization and disposition of its businesses.” It submitted a motion to the U.S. Bankruptcy Court for the District of Delaware for the closure of about 124 stores as part of its bankruptcy proceedings.

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

Volcom’s parent company, Liberated Brands, filed Chapter 11 bankruptcy earlier this month, leading to the closure of the Coronado Center store and more than 100 others across the U.S.

More than 100 Volcom, Billabong, and Quicksilver stores across the U.S. are set to close after parent company Liberated Brands filed for Chapter 11 bankruptcy.

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.

While the closures will impact stores nationwide, the fate of the Hawaii stores is unclear. The status of Liberated Brands’ Hawaii locations is reportedly in negotiations.

Once-iconic skater and surfer brands Billabong, Volcom and Quiksilver are closing down Bay Area brick-and-mortar stores after their owner filed for bankruptcy.

More than 120 Billabong, Quicksilver and Volcom stores in the United States will close permanently following a bankruptcy filing by license operator Liberated Brands.

The Costa Mesa-based brands' CEO cited rising interest rates, supply-chain issues, inflation and other causes for the decision

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.