On Thursday, December 3, DC Shoes employees were notified that the company would be closing its offices in Vista, California and relocating approximately 60 miles north to parent company Quiksilver’s global headquarters in Huntington Beach. The move will reportedly be made within six months. A spokesperson from Quiksilver declined to comment, saying that the company was not planning to issue a news release.
DC Shoes employees currently living in San Diego County will be facing a commute of over an hour through traffic-laden Orange County. Quiksilver acquired DC in 2004 for $56 million in cash, 1.6 million restricted shares of Quiksilver common stock and the assumption of approximately $10 million in funded indebtedness. The sellers also recieved a potential four-year earn out of $57 million.