Liberated Brands filed for Chapter 11 bankruptcy over the weekend and is looking to shutter its U.S. retail stores where it sold brands like Quiksilver, Billabong and Volcom.

The surf-and-skate-inspired clothing labels will continue to be sold by other retailers as the company lays off 1,400 employees amid 'consumer spending changes.'

Liberated Brands, the parent company of several sport, outdoor and lifestyle apparel retailers, has initiated Chapter 11 bankruptcy proceedings, according to court documents filed in Delaware. Liberated Brands’ portfolio of retailers includes Volcom,