New funding and job cuts for Quiksilver
09/06/2009
Sports apparel brand Quiksilver has secured around $150 million in funding in the form of a loan from private equity firm Rhone.
Reuters reported that Quiksilver had made the move “to improve its liquidity position”.
The California-based company said it would shed 160 jobs at the end of July through closing a T-shirt factory and consolidting its logistics operations. It may also close retail stores it deems to be “underperforming”.
Share this story:
