Blaming malls for failing retail chains is both lazy and wrong.
In a broad sense, mall traffic has been relatively steady and it certainly has not plummeted in the way that some of the media like to portray it. People still visit malls.
“Visits to indoor malls and open-air shopping centers held relatively stable in February 2025, despite the sharp drop in consumer confidence,” Placer.ai reports. “And both mall types outperformed the wider retail YoY average – highlighting the ongoing resilience of the retail format.”
The challenge for retailers is getting people to buy things when they’re there. A mall can lure people in with food courts, massage chairs, entertainment and who knows what else, but they can’t force people to open their wallets.
A number of mall chains have either filed for Chapter 11 bankruptcy protection or have proactively closed locations. Macy’s and Fossil have both closed stores, while Forever 21 and Joann have begun fully shutting down all their stores.
Those closures have happened partly due to changing customer demand and, at least in the case of Forever 21 and Joann, heavy debt, making a turnaround impossible. Demand for what Forever 21, and most certainly Joann, sells is still there, but the companies are not viable due to past debt.
Another mall-based chain has joined that list and filed for Chapter 11 bankruptcy, under which it plans to close all its stores.
Liberated Brands sells a number of lifestyle brands.
Image source: Getty Images
Liberated Brands is about the brands it sells
The name Liberated Brands does not mean a lot to most people. Even when you read the company’s description on its LinkedIn page, you might be a little confused.
“Liberated Brands is a global leader in the sport, outdoor, and lifestyle apparel industry, boasting a 30-year history of connecting with consumers through a relentless focus on brand cultivation, sports marketing, and immersive storytelling,” its website says.
“Their products are sold in more than 100 countries through select department and specialty stores, in over 400 of their company-owned and operated retail stores, and select online stores, including 48 company-owned websites.”
That sounds nice, but it probably does not jog your memory as to what the company actually sells. It gets to that point in its rather wordy description of its business.
More closings:
“Their mission is to leverage the company’s deep-rooted expertise in trend forecasting and brand development within the ever-evolving outdoor and lifestyle sectors to attract loyal customers worldwide,” Liberated Brands adds.
“Based in Costa Mesa, California, they operate regional headquarters in North America, Europe, Japan, and Australia. Their portfolio of brands includes Volcom, Billabong, Quiksilver, Spyder, RVCA, Roxy, Honolua, and Captain Fin.”
Liberated Brands, it should be noted, does not own the brands, It licenses them from Authentic Brands Group, the closely held New York brand-management company.
Liberated Brands files Chapter 11 bankruptcy
In early February Liberated Brands filed for Chapter 11 in U.S. Bankruptcy Court in Wilmington, Del. At the time it reported assets and liabilities between $100 million and $500 million. The company’s creditors hold unsecured claims ranging from $566 million to $3.2 billion.
The filing affects the company’s U.S. operations. Liberated Brands has hired Gordon Brothers to sell off its remaining inventory and close its stores.
Gordon Brothers said in a news release that it had begun closing sales at all 122 Volcom, Billabong, Quiksilver, ROXY, Honolua Surf, RVCA, Beachworks, Becker Surfboards, ZJ Boarding House, Spyder, and Boardriders “store locations under Liberated Brands’ retail fleet in the U.S.”
The chain is expected to liquidate all merchandise and sell all store fixtures. Sales are under way at heavy discounts.
“The sport, outdoor, and lifestyle apparel retailer is offering storewide discounts of 20% to 40% off the full price of all apparel and products with outlet locations offering 30% to 50% off all items,” it said.
All sales are final and no returns are being accepted.
“In addition, Gordon Brothers is providing real estate advisory services to Liberated Brands, including a strategic portfolio review to analyze and maximize the value of the company’s store leases, the Gordon Brothers statement says.
“The leases available nationwide provide an opportunity for retailers looking to expand their real estate portfolios in prime, high-demand locations.
