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Year in Review
Quiksilver spent the past year reworking its balance sheet as the action sports apparel industry saw some signs of a turnaround in what still was another tough year.
In August, Chief Executive Bob McKnight struck a deal with New York-based investor Rhone Group LLC to swap shares for about $140 million in debt.
The move led to an upgrade in Quiksilver's debt rating from Moody's Corp. and lowered the cost of its $150 million credit line.
But the deal came at a price: Rhone now owns nearly 30% of Quiksilver.
In 2009, Rhone provided a lifesaving financing deal after Quiksilver nearly was sunk by a...