Liberated Brands, the operator for Billabong, Quiksilver, and Volcom, filed for bankruptcy effectively closing the popular retailers in the U.S.

A rise in interest rates, persistent inflation, supply chain delays, a decline in consumer demand, a shift in consumer preferences, and substantial fixed costs were all listed as challenges the company has faced.

While the closures will impact stores nationwide, the fate of the Hawaii stores is unclear. The status of Liberated Brands’ Hawaii locations is reportedly in negotiations.