Masai files for bankruptcy | RetailDetail

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.

Questions or comments? Please feel free to contact the editors


Multinationals fail their healthy food claims

24/05/2018

Food multinationals are not doing enough to make their products more healthy, according to Access to Nutrition Foundation. NestléUnilever and Danone are top of the class.

Ahold Delhaize launches digital lab in the United States

22/05/2018

Ahold Delhaize’s American division will found a new company focused on digital innovation: Peapod Digital Labs will become a lab for new digital, eCommerce and personalization strategies. 

Carrefour forced to shut down hundreds of Dia stores

22/05/2018

Carrefour has not found a buyer for hundreds of its former Dia stores in France yet. That may force nearly 230 stores to shut down.

Carrefour and Tencent launch high-tech store in Shanghai

22/05/2018

The recently launched ‘Le Marché’ store formula, a first collaboration between Carrefour and Tencent, allows customers to pay with face recognition at unmanned checkouts.

Hoegaarden moves part of production to Vietnam and China

18/05/2018

Hoegaarden experiences strong growth in Asia, but is losing ground in Europe. That is why AB InBev will move part of the production to China and Vietnam: the brewery in Hoegaarden will lower cut its production days by 2 a week.

Holland & Barrett wants vegan stores

17/05/2018

British health chain Holland & Barrett (previously known in the Benelux as Essenza) plans to open completely vegan stores, a trend the chain needs to follow according to CEO Peter Aldis.