Quiksilver Inc., the California-based surfwear and skatewear retailer, won final bankruptcy-court approval of a plan that restructures some $800 million in debt and ensures a fresh start for the company under its new private-equity owner, Oaktree Capital Management, the Wall Street Journal reported today. In approving the plan, Bankruptcy Judge Brendan Shannon cleared the way for the company to “start the ball rolling” and exit chapter 11 protection as soon as next week. Under a deal reached before Quiksilver filed for bankruptcy, Oaktree and other secured bondholders will forgive $279 million of bond debt in exchange for control of the retailer. Oaktree holds about 75 percent of that debt and will receive a majority stake in the restructured company, court papers show.
