On 28 January, 2016, Quiksilver Inc. announced that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the District of Delaware, with support from the company’s major stakeholders. Quiksilver expects to emerge from bankruptcy on or around the week of 8 February, 2016.

Back in September the company filed for Chapter 11 bankruptcy, only applying to the American part of the company, and was able to get Oaktree Capital Management as their investor to help with the restructuring.
CEO of Quiksilver Pierre Agnes said: “Today marks a new beginning for Quiksilver, ROXY, and DC Shoes. We will emerge as a revitalized and stronger company with experienced leadership, rationalized operations, a clean balance sheet and a world-class partner in Oaktree, who brings additional strategic and operational expertise to our company.”

The confirmation of the Plan of Reorganization will allow Quiksilver to execute a financial and operational restructuring designed to restore the company to long-term financial health. “This is an important milestone in the evolution of Quiksilver and we are pleased with the Court’s confirmation of our plan to emerge from bankruptcy only months after filing our voluntary petitions,” comments Agnes.