Last week three retail stores in the downtown Santa Barbara announced they would be closing.
Volcom and Billabong, located in the 600 block of State Street and owned by the same parent company, have placed “store closing” signs in their windows as Liberated Brands LLC filed for bankruptcy. The company also owns Qucksilver, Roxy, and other surf clothing brands.
Faitell Attractions, the locally owned vintage design and consignment store located in the 100 block of W. Canon Perdido Street, announced it will be closing on March 1 after losing their lease.
Todd Hymel, CEO of Liberated Brands, said, “Macroeconomic issues, including a rapid and dramatic rise in interest rates, persistent inflation, supply chain delays, a decline in customer demand well below the historical trendline, shifting consumer preferences, and substantial fixed costs placed significant pressure on Liberated’s revenue and cost structure.”…