Masai files for bankruptcy

Masai Group International was one of the pioneers within the segment of
‘physiological footwear’ and is the company behind the functional MBT
shoe. This abbreviation stands for Masai Barefoot Technology:
examination of the African Masai people showed that natural instability
would have a positive health influence. Based on these findings the
enterprise designed a shoe that imitates walking on a soft, uneven
terrain.
 

Gradual downsizing

During the last years the company located in the Swiss Winterthur
suffered from an enormous competitive pressure, which led to an erosion
of the brand image and finally also to a strong drop in market share.
The combination of competitive pressure and high debt finally became
fatal to the company.

As financial restructuring turned out to be impossible, the enterprise
started a search for a buyer. When this also appeared to be infeasible,
potential investors decided not to launch a
takeover bid. This urged MGI’s Management and MMT’s Board of Directors
to file for bankruptcy.