Quiksilver Update: After The Squeeze, Still A Zombie Business And Terminal Short
Jeremy Raper • 12 Comments
Jeremy Raper • 12 Comments
Sep. 11, 2015, 8:56 AM
Sep. 9, 2015, 1:47 PM
- Quiksilver (ZQK) officially files for Chapter 11 bankruptcy to end a long period of speculation on the future of the surfwear company.
- Financing from Bank of America and affiliates of Oaktree Capital Management will keep Quiksilver's operations afloat.
- The bankruptcy does not impact Quiksilver's business in Asia and Europe.
- Previously: Quiksilver looks for a buyer (Sept. 2)
- Previously: Bloomberg: Quiksilver to plan bankruptcy filing as soon as tonight (Sept. 8)
Sep. 8, 2015, 7:06 PM
- Quiksilver (NYSE:ZQK) -60.4% AH following reports that the surfwear chain is planning to file for bankruptcy as soon as tonight.
- As part of the plan, a P-E buyer that owns similar brands will provide debtor-in-possession financing, Bloomberg reports.
- ZQK reportedly had been holding discussions with potential strategic bidders, with the goal of a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores.
Sep. 8, 2015, 5:35 PM
Sep. 2, 2015, 1:42 PM
- Quiksilver (ZQK +5.5%) is seeking a management-led buyout, sources tell Bloomberg.
- Analysts think pulling off a buyout outside of the bankruptcy court could be tricky at Quiksilver's current level of free cash flow.
- Shares of the sporting goods seller were up as much as 28% this morning before retreating back down.
Jun. 23, 2015, 6:07 PM
- NiSource spinoff Columbia Pipeline Group (CPGX) is taking Allegeheny Technologies' (NYSE:ATI) spot in the S&P 500. Allegheny will join the S&P MidCap 400.
- Also joining the S&P 400: Casey's General Stores (NASDAQ:CASY), Graham Holdings spinoff Cable One, DuPont spinoff Chemours, and the post-spinoff Energizer (NYSE:ENR).
- Getting dropped to the S&P SmallCap 600 from the 400: Unit Corp. (NYSE:UNT), Harsco (NYSE:HSC), and Semtech (NASDAQ:SMTC).
- Also joining the S&P 600: Nektar (NASDAQ:NKTR), Masco spinoff TopBuild, and the new/post-spinoff Gannett (NYSE:GCI). Gannett's broadcast/digital spinoff Tegna (Pending:TGNA) will have old Gannett's spot in the S&P 500.
- Getting dropped from the S&P 600, and not moving up: Aeropostale (NYSE:ARO), Paragon Offshore (NYSE:PGN), PetroQuest (NYSE:PQ), Quiksilver (NYSE:ZQK), and FXCM.
- Leaving the S&P 400, and not moving elsewhere: Peabody (NYSE:BTU) and AOL (acquired by Verizon).
- ATI -1% AH. UNT -0.7%. ARO -1.1%. PQ -1.9%. BTU -1.1%. NKTR +5.2%.
Jun. 12, 2015, 1:16 PM| Jun. 12, 2015, 1:16 PM | 4 Comments
Jun. 9, 2015, 9:17 AM
Jun. 9, 2015, 7:33 AM
- Quiksilver (NYSE:ZQK): FQ2 EPS of -$0.22 misses by $0.08.
- Revenue of $333.05M (-16.1% Y/Y) misses by $8.19M.
Jun. 8, 2015, 5:30 PM
Jun. 8, 2015, 12:49 PM
Jun. 3, 2015, 7:55 PM
- Elizabeth Dolan has resigned from Quicksilver's (NYSE:ZQK) board, writing "Your lack of trust in me has been made clear" and saying she had been excluded from key discussions and votes. "On my end, this can't be rebuilt."
- Dolan is chief marketing officer for Fox International Channels, and previously worked as CMO for OWN: The Oprah Winfrey Network.
- Quicksilver tumbled amid turmoil earlier this spring when its CEO and CFO were pushed out of the company.
- Shares were up 5.1% today after setting a 52-week low of $1.18 yesterday. Before today's move, the stock was down more than 46% YTD.
Mar. 27, 2015, 12:45 PM
Mar. 27, 2015, 11:46 AM
Mar. 27, 2015, 7:49 AM
- Quiksilver (NYSE:ZQK) has replaced its CEO and made some other top-level management changes which will be effective immediately.
- Pierre Agnes was promoted to the CEO position to replace Andy Mooney.
- Thomas Chambolle is named the new CFO.
- Founder Bob McKnight is appointed Chairman.
Mar. 18, 2015, 12:45 PM