Liberated Brands, an apparel company with an estimated $1.2 billion in annual retail sales, is closing its Costa Mesa offices resulting in 363 employee layoffs, according to state employment records.
“As part of a company-wide restructuring, Liberated Brands is closing its corporate offices and laying off all employees who work at those locations,” the company stated in a Jan.8 Worker Adjustment and Retraining Notification (WARN) Act notification letter.
The layoffs, effective Jan. 8, and the closure of its headquarters come a month after Liberated lost licensing agreements to design, sell and distribute top surf and skate brands Billabong, Volcom, RVCA and Spyder. Authentic Brands Group, a New York based global brand management company that owns Forever 21 and Reebok, cut those licensing agreements with Liberated in mid-December.
“This week, in full compliance with its obligations, Liberated issued a formal WARN notice to staff, following up on discussions held during a company-wide town hall in December,” Liberated Brands told the Business Journal in a statement. “The company is actively transitioning its brand licenses to new license holders. We are encouraged to see that many of our talented employees are already interviewing with these new license holders as part of this management transition, ensuring continuity for the brands and their success moving forward.”
The corporate offices shuttering are at 1740 Monrovia Ave. and 555 Anton Blvd., both in Costa Mesa. Positions eliminated included e-commerce, digital, marketing, IT, HR and designer roles, as well as the chief executive and chief operating officer. CEO Todd Hymel founded Liberated in 2019.
Read more in the Jan. 20 print edition.
