Masai files for bankruptcy

Masai files for bankruptcy

The Swiss shoe producer Masai is filing for bankruptcy. Both Masai Group International (MGI) and Masai Marketing & Trading (MMT) have to close down because they have too much debt.

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.

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