The US Bankruptcy Court for the District of Delaware has agreed to the terms of Quiksilver’s $175 million financing deal with Oaktree Capital and Bank of America, according to a post on Just-Style.
“We are pleased to have court approval of the final DIP financing allowing our reorganisation to proceed on track as well as an additional $10m to pay pre-petition claims for critical vendors, said Pierre Agnes, CEO of Quiksilver. “We will continue to work in close cooperation with the Creditors Committee to execute our financial and operational restructuring, which is designed to restore the company to long-term financial health. We look forward to emerging from the Chapter 11 process, a stronger company better positioned to prosper into the future.”
Wonder what will be so different this time around (aside from getting out from under a bunch of debt and having a new load of cash)? We’ll all have to wait and see.
Here’s some decidedly not April Fools news. Patagonia is kicking off their Worn Wear Mobile Tour tomorrow April 2, 2015 in Ventura, California. They’re taking members of their Reno, Nevada warehouse repair staff on the road to fix your stuff for you for FREE.
The Worn Wear Wagon is a one-of-a-kind custom vehicle, created by artist/surfer Jay Nelson. The solar-powered camper shell is made from redwood salvaged from giant wine barrels and mounted on a ’91 Dodge Cummins fueled by biodiesel. The mobile repair shop, complete with an Industrial Juki sewing machine, will be open to anyone who brings in a garment, regardless of brand. The tour will aim to educate visitors about the philosophy behind Patagonia’s Worn Wear program, in addition to offering up some fun with food, drinks and live music.
If you have some gear that needs repairing follow the jump for a complete schedule of where the Worn Wear Wagon will be, and when. [click to continue…]
Stab magazine founder Derek Rielly and Welcome To Paradise Now Go To Hell author Chas Smith believe that some surfers are still interested in viewing clever, well written groupings of words and photos related to surfing. And for all 11 of you who are interested yet have grown tired of the incessantly sincere sniveling of The Inertia they have created BeachGrit. Here’s how they see it:
BeachGrit is as fearless as it is fun. It does what no other space in surf does because it has seen it all and knows that surfing is light, loose and libertine. Every day is a new day and there is much to explore. Surfing is, after all, the most anti-depressive thing ever!
We were saddened to learn on Friday July 25, 2014 that after 24 years, Seattle’s longtime core action sports retailer SnoCon is closing its doors. It is a northwest snowboard institution whose influence on the sport and core retailing will be missed greatly industry wide. Founder John Logic, notified staff on Friday that their final work day would be the following day, Saturday July 26.
Tough retail conditions are largely to blame according an email from Logic, “[SnoCon] tried to get right for five years, after 17 golden ones, but they couldn’t right the ship,” he said. “Even an upside down boat will float. It’s just not much of a party cruise, ya know?”
For the rest of the story, please follow the jump.
These high-frequency energy drink consumers were also more likely to meet the criteria for alcohol dependence, as defined by the Diagnostic and Statistical Manual of Mental Disorders. Compared with students who abstained from using energy drinks, the high-frequency users were 2.4 times more likely to be considered alcohol dependent; compared with the low-frequency group, they were 86% more likely.
Researchers weren’t sure if the data went the other way, however, as students may use the energy drinks to “overcome the affects of hangovers.” Either way, it reminds us of something a skate team manager said when we accidentally kicked over a can of Monster at a recent skate contest: “No worries,” he said. “You just saved some kid’s life.”
Talk in the Rally world regarding Ken Block is often harsh, mostly because he was able to come out of nowhere and immediately become one of the most talked about rally driver in America. But all that aside he won the 2010 Rally America 100 Acre Wood Rally for the fifth time in a row this weekend according to a post on RallyBuzz.
“I can’t tell you how difficult and challenging this weekend has been,” said Block. “This is the location of my first national rally win, so I have now won this rally five years in a row and it is a pretty good feeling to get the Fiesta home in first. The Fiesta is a big change from the car I was racing before, but I am finally starting to come to grips with how to drive it and how to go as fast as I can. It is very fun to drive and I am really enjoying the Fiesta.”
Travis Patrana was leading by over a minute when rear suspension damage put him out of the race. In an odd twist BMXer Dave Mirra finished fourth.
Our favorite E Television announcer Sal Masekela may not have kicked Diddy’s hiney (or bettered Oprah’s 1994 time of 4:29:20), but he did finish all 26.2 miles of the New York City Marathon and in so doing ended up raising $80,000 for Stoked Mentoring, according to a story on UsMagazine.com.
“One hundred percent of the money I raised will go to Stoked.org,” Masekela told Usmagazine.com before the race. After crossing the finish line, Masekela Tweeted: “Well Tweeps, I let you down. Didn’t beat @iamdiddy. Hit a wall from hell at 18. Finished around 5 hrs. Hardest thing I’ve ever done.”
To beat Diddy he needed to be under 4:15. But no matter. He finished and Stoked Mentoring wins big.
The administration at Australia’s Sylvania High School took action when two Red Bull workers dropped off a few drinks and fliers at the school which had earlier “banned the product on health grounds,” according to a story in The Daily Telegraph.
School officers threw out several cans of the beverage left by the company and refused to hand out any of the stickers and flyers to students. . . The state’s most influential parents’ lobby group has called for a statewide ban on the controversial drinks amid increasing fears about their health risks. . . The Federation of Parents and Citizens’ Associations wants the crackdown because of concerns over students becoming loud and hyperactive in class after consuming cans of Red Bull, V, Mother or Cocaine. . . Experts said the drinks can cause mood disturbances, heart palpitations, dizziness, headaches and dehydration.
Blackcomb Mountain was evacuated yesterday at 3 PM after a lightening strike started a forest fire that has grown to 75 hectares in size, according to a story in The Province.
The fire was sparked by lightning yesterday night at Crystal Ridge near Crystal Hut and the Crystal chairlift, said Ellie Dupont, coastal fire information officer. . . “Anytime there is a slope or a wind, it grows faster,” she explained. She was unsure of how the winds are moving on the mountain. . . . “At this point, forest service helicopters are dropping buckets of water and water bombs are en route,” said Alex Halbert, spokesperson for Whistler Blackcomb.
Blackcomb Mountain is completely closed today (July 31, 2009).
Spokeswoman Sigrid Rosenberger says the traces are very slight and do not pose a health risk. . . Earlier this month, several German states told retailers to stop selling Red Bull after a sample test by authorities in North Rhine-Westphalia state found 0.4 micrograms per liter in the drink. . . Rosenberger said Friday the Austrian findings hovered around the detection limit.
Red Bull says their product is completely safe for marketing in the US and Europe and that we should all keep drinking so we can work longer hours, so we can buy more Red Bull so we can work longer hours, so we can buy more. . .