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

More than 120 Billabong, Quicksilver and Volcom stores in the United States will close permanently following a bankruptcy filing by license operator Liberated Brands.

Parent company Liberated Brands blamed fast fashion and e-commerce moving too quickly to sustain its outdated brick-and-mortar stores in bankruptcy filings.