Quiksilver is reportedly in a last ditch effort to find someone to buy them and bail them out the hole they’ve found themselves in for the past three years, according to a story on BloombergBusiness.
Quiksilver has been holding discussions with potential strategic bidders, said the people, who asked not to be identified because the process isn’t public. The goal is a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores, two of the people said.
News of the discussions sent the stock rocketing up 7.9% to a whopping 45 cents at the close! The most interesting aspect to some of our readers may be that the lead company mentioned as Quik’s savior is Jamie Salter’s (remarkably successful) zombie brand holding company Authentic Brands Group. Yep, Quiksilver would likely fit in quite nicely with Airwalk, Vision Streetwear, and Sansabelt.
[Link: Bloomberg]
