Skip to content
Subscriber Only
Business
Pursuits

Quiksilver Said to Plan Bankruptcy Filing as Soon as Tuesday

Updated on

Quiksilver Inc. is preparing to file for bankruptcy as soon as Tuesday evening in a deal that would hand control of the beleaguered surfwear chain to investment firm Oaktree Capital Management, according to people with knowledge of the deliberations.

As part of a prearranged Chapter 11 restructuring, Oaktree would provide $175 million in debtor-in-possession financing and assume control of the reorganized company, said a person familiar with Quiksilver’s thinking, who asked not to be identified because the proceedings aren’t yet public. Any plan would require court approval.