Dick Smith issues warning as business behind Billabong, Quiksilver files for bankruptcy in US

Australian magnate Dick Smith has issued a grim warning for the future of iconic Billabong and Quiksilver, and outlined the key mistake made as the US firm selling the iconic surfwear files for bankruptcy, blaming the never-ending pressure on companies to keep expanding and saying Billabong and Quiksilver’s US troubles remind him of Woolworths’ role in the demise of Dick Smith electronics.

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