Quiksilver Inc., the California clothing chain that helped spread surfer and skateboarder styles around the world, filed for bankruptcy with a plan to hand control over to its senior lenders.

The company, rooted in the seaside cultures of Australia and Southern California, failed to pull off a turnaround begun in 2013, Chief Financial Officer Andrew Bruenjes said in court papers filed Wednesday. The Huntington Beach, California-based retailer had been trying to overhaul an organization that was so spread out that it was hurting operations.

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