Home Videos Photos
PerezHilton CocoPerez Cara Delevingne Bachelorette Caitlyn Jenner Nicki Minaj PerezTV

Billabong Posts $275.6 Million Loss! Closing More Stores!

| Filed under: Fashion SmashionBusiness Blitz

billabong-closing-83-stores-after-posting-a-loss.jpg

This is so sad!

Billabong has been clothing surfers and beach bums for decades, but after losing $275.6 million in a year, or a 331% drop, they're having to downsize.

Gnarly!

In the next year, 82 stores will close, in addition to the 150 that are already being shut down.

To get company back on its feet, Billabong plans to stabilize and leverage the brand, then expand their online presence and create a simpler business plan.

Sounds promising!

If that doesn't work out, private equity firm TPG, is prepared to buy them out for $694 million.

It’s never good to see a business go under, especially in this economy, so we hope they get the situation under control ASAP!

[Image via PR Photos.]

Tags: , , , , ,

Email this  »
Worst Dressed Celebs Of The Week!
Best Dressed Celebs Of The Week!
Cara Delevingne: Rise To Fame!
Worst Dressed Celebs Of The Week!
Best Dressed Celebs Of The Week!
All The Times The Kardashians Have Borrowed Each Other's Clothes!

Comments are closed.