If you walked past a boarded-up storefront with that iconic wave logo lately, you probably wondered if it was the end of an era. Honestly, it feels like it. Seeing "Store Closing" signs on a brand that basically defined 90s and 2000s surf culture hits different. But before you go mourning the death of the boardshort, there is a lot of nuance to the "out of business" rumors floating around the lineup.
The short answer? Billabong the brand is still alive, but Billabong the retail stores are mostly toast.
It is a mess of corporate bankruptcy, licensing hand-offs, and a massive shift in how you’ll actually buy your gear from here on out. In early 2025, the company that was actually running the shops—a group called Liberated Brands—filed for Chapter 11 bankruptcy. This triggered a massive wave of closures across the U.S. and Canada. We're talking about more than 100 locations for Billabong, Quiksilver, and Volcom just vanishing from malls and coastal strips.
The Bankruptcy That Fooled Everyone
So, here is where it gets kinda technical but stay with me. Billabong doesn't really "own" itself anymore. A massive conglomerate called Authentic Brands Group (ABG) bought the whole Boardriders portfolio (which includes Billabong, Quiksilver, Roxy, etc.) back in late 2023 for about $1.2 billion.
ABG is basically a giant landlord for brands. They don't usually run the stores themselves; they rent the name out to other companies who do the dirty work of manufacturing and selling.
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- The Middleman: ABG gave the keys to the North American retail kingdom to Liberated Brands.
- The Crash: Liberated expanded way too fast. They went from 67 stores to 140 almost overnight during the post-pandemic boom.
- The Result: High interest rates, "fast fashion" rivals like Shein, and a drop in people wanting $70 hoodies meant Liberated couldn't pay the bills.
By December 2024, ABG saw the writing on the wall and pulled the plug on Liberated’s license. A few weeks later, Liberated filed for bankruptcy. That is why you saw the 60% off liquidation sales. It wasn't Billabong dying; it was the shopkeeper going broke.
Why the Mall Era of Surf is Over
You’ve probably noticed that surf shops in malls feel a bit... empty? Or maybe just like every other store? The "vibe" that Billabong spent decades building has been struggling against the convenience of Amazon and the cheapness of big-box retailers.
Back in the day, a Billabong store was a destination. Now, you can find the same gear at Dick’s Sporting Goods or even Costco sometimes. When a brand moves from a specialized boutique to a rack at a department store, it loses some of its soul, but it gains a lot of volume.
The reality is that running 124 physical stores in 2026 is an expensive nightmare. Between rising rents and the fact that most teenagers are buying their clothes off TikTok Shop, the "lifestyle" store model is bleeding cash. ABG’s strategy now is "rationalization"—a corporate way of saying they’d rather sell to you through a website or a wholesale partner than pay rent at the local mall.
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Who Is Making the Clothes Now?
If you buy a Billabong shirt today, it’s likely coming from O5 Apparel. They are the new partners who took over the wholesale license for both Billabong and Quiksilver after the Liberated collapse.
It’s a different world. The designers and the "core" surf team still exist under the ABG umbrella, but the people actually sewing the fabric and shipping the boxes are different. This has led to some grumbling in the surf community about quality. You'll see people on Reddit complaining that the new stuff "sucks" compared to the vintage gear, but that's the trade-off for staying afloat in a world of high inflation.
What This Means for You
If you’re a fan of the brand, don’t panic. You can still get the stickers, the hats, and the 4/3 wetsuits. You just probably won't get them at a dedicated Billabong store.
- Check Local "Mom and Pop" Shops: Interestingly, some family-owned Billabong stores (like the one in Shrewsbury, NJ) stayed open because they are independently run and just license the name. These are the true survivors.
- Digital First: Expect the website to be the main way you interact with the brand. ABG is leaning hard into e-commerce because the margins are way better than physical retail.
- The "Big Box" Shift: You’re going to see more Billabong in places like PacSun or Kohl’s. It’s becoming a "mass-market" brand rather than an "exclusive surf" brand.
The Future of the Wave
Is Billabong "out of business"? No. But is the Billabong we grew up with—the one that felt like a secret club for people who actually surfed—mostly gone? Yeah, kinda.
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It’s now a piece of a massive corporate portfolio, sitting on the shelf next to Reebok and Brooks Brothers. It’s a survival tactic. In a world where even the most iconic brands can disappear overnight, Billabong is choosing to change its shape rather than sink.
If you have old gift cards from a Liberated-run store, check the dates immediately. Most of those were only honored for a short window after the bankruptcy filing. If you're looking for deals, the liquidation phase is mostly over, so your best bet now is waiting for the seasonal "end of line" sales on the official website or checking out the clearance racks at major sporting goods retailers.
Next Steps for You:
If you're looking for the current "official" gear, head straight to the Billabong website rather than driving to the mall. If you're chasing the high-quality, "core" feel of the old days, you might want to look into smaller, independent brands like Vissla or Outerknown, which are currently filling the gap left by the corporate giants.