Shares of Billabong and Quiksilver, the surfwear industry's biggest labels, surged to records in 2007, then crashed. A young, ambitious player has hopes of reviving the salty dream.

After months of disputes, Quiksilver Inc. is close to reaching a deal on how much its junior creditors will be paid in the company’s bankruptcy settlement.

Quiksilver Inc., the surfwear retailer, is in talks with banks for a loan that would help finance its business after it exits bankruptcy.

Oaktree Capital Management LP is close to hiring AlixPartners LLP to advise on its efforts to take over Quiksilver Inc., according to people with knowledge of the matter.

Oaktree Capital Management LP may consider combining bankrupt surfwear retailer Quiksilver Inc. with Billabong International Ltd.

Quiksilver Inc., the California surfwear chain that lost 79 percent of its market value this year, filed for bankruptcy with a plan to hand control over to lender Oaktree Capital Management LP.

Quiksilver Inc., the surfwear chain that has lost more than three-quarters of its value this year, is looking for a buyer that could help keep the company afloat.

Quiksilver Inc. hired restructuring adviser Peter J. Solomon Co. to help it find financing as the surf-wear chain struggles to turn itself around in a crowded teen-apparel business.