Quiksilver said to seek buyer as it struggles to stay afloat

New York

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, according to people familiar with the matter.

Quiksilver has been holding discussions with potential strategic bidders, said the people, who asked not to be identified because the process isn't public. The goal is a management-led buyout, ideally outside of a bankruptcy, that would let the company retain its stores, two of the people said.