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Quiksilver U.S. Launches Pre-Arranged Chapter 11 Restructuring

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Quiksilver, Inc. (NYSE: ZQK) today announced that it
commenced voluntary proceedings for relief under chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy Court for
the District of Delaware (the "Bankruptcy Court") for its U.S.
subsidiaries. The chapter 11 filing, which is supported by 73% of the
Company's senior most class of debt, will facilitate Quiksilver's
financial and operational restructuring, which is designed to restore
the Company to long-term financial health.

The Company's European and Asia-Pacific businesses and operations remain
strong and are not part of this filing. Additionally, holders of the
Company's Eurobonds sufficient to waive any technical default arising
from the filling have agreed to allow

See full press release

 

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