Private Equity Ripped the Heart Out of Skateboarding

Published: Thursday, August 21, 2025 at 9:30 am

Skateboarding's Corporate Crisis: A Financial Rollercoaster

The skateboarding industry, once a symbol of anti-establishment culture, is facing a crisis. Private equity firms have been acquiring and restructuring major brands, leading to a series of collapses and a shift away from the grassroots ethos that defined the sport.

Recent events highlight the trend. Liberated Brands, a conglomerate encompassing iconic skate and surf imprints, filed for bankruptcy in February, resulting in over 1,000 layoffs and the closure of all retail locations. This followed a 2023 rollup by Authentic Brands Group. This is not an isolated incident. The industry has seen a pattern of private equity firms buying up successful brands, loading them with debt, and then extracting value through cost-cutting measures, often at the expense of the skaters and the community.

This financial maneuvering has impacted the very foundations of skateboarding. The traditional model, where skater-owned brands supported local skate shops and fostered community, is being eroded. The rise of large, corporatized retailers like Zumiez, backed by private equity, and online giants like CCS, has further squeezed independent shops, which once served as vital hubs for the culture.

The consequences extend beyond financial losses. The focus on profit has led to a disconnect from the core values of skateboarding, including the skaters themselves. The industry is now facing a degradation process.

BNN's Perspective: The situation in skateboarding serves as a cautionary tale. The relentless pursuit of profit by private equity firms, even in industries rooted in counter-cultural values, raises concerns about the long-term impact on authenticity and community. While the rise of skater-owned brands offers a glimmer of hope, the industry faces an uphill battle to reclaim its roots.

Keywords: skateboarding, private equity, Liberated Brands, Zumiez, CCS, World Industries, Authentic Brands Group, bankruptcy, skater-owned brands, corporate takeover, industry collapse.

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