Liberated Brands filed for Chapter 11 bankruptcy over the weekend and is looking to shutter its U.S. retail stores where it sold brands like Quiksilver, Billabong and Volcom.

All Quiksilver, Billabong and Volcom stores will be closing in the U.S due to a voluntary bankruptcy filed by Liberated Brands.

Liberated Brands filed for bankruptcy in the U.S. Bankruptcy Court earlier this week. Closing sales at all 122 stores have begun.

Liberated Brands, the parent company of several sport, outdoor and lifestyle apparel retailers, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware. Liberated Brands’ portfolio of retailers includes Volcom,

Doors at the retail shops will be shut in about 10 weeks following Liberated Brands bankrupcy. Gift cards should be used before Feb. 16.

Liberated Brands, which until recently operated skateboard and surfing-inspired retail brands including Quiksilver, Billabong and Volcom, has filed bankruptcy as more customers choose “fast fashion” competitors.

Quiksilver, Billabong, and Volcom stores across the U.S. are on the verge of permanently closing after the operator - "Liberated Brands" filed for bankruptcy this year. Michael Mondin, visiting Hawaii from British Columbia told Island News,

Liberated Brands, which has operated stores for surfer and skater-inspired labels like Quiksilver, Billabong and Volcom, filed for bankruptcy this week — and plans to shutter its locations across the U.