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Billabong Rebuilds Brick-and-Mortar After Closing 215 Stores

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Billabong International Ltd., the surfwear brand that lost 99 percent of its market value after taking on debt to build a store network, plans to start opening new outlets again as it tries to reignite profits.

Billabong is ready to open new stores “right now,” Chief Executive Officer Neil Fiske said. The company based in Gold Coast, Australia, closed or sold about 34 percent of its locations over the past three years as it slashed debt by A$394 million ($333 million).