Keep up to date with Insol Europe news on our LinkedIn profile page...

 

Poundland announces major restructuring with store closures and job cuts

Last week Poundland announced a major restructuring which involves extensive store closures and job losses. The budget retailer is embarking on a significant turnaround plan, including the closure of…

Solar panel maker Meyer Burger’s German subsidiaries file for insolvency

Swiss solar panel manufacturer Meyer Burger Technology's German subsidiaries, Meyer Burger (Industries) and Meyer Burger (Germany), have filed for insolvency after unsuccessful restructuring efforts.…

Frasers nears control of distressed Norwegian sports giant

Frasers Group is nearing a takeover of troubled Norwegian sportswear retailer XXL ASA, having secured over 92% of its share capital and 90% of voting shares. Despite this, Frasers has issued stark warnings,…

German insurtech to cut around 20% of its workforce in Germany

Clark, the German insurtech, is cutting around 20% of its workforce in Germany, primarily in the IT departments at its Berlin and Frankfurt offices. These layoffs, announced in late May, are described…

News

Norwegian owned global shoe retailer files for bankruptcy in Sweden
Stockholm-based sneaker retailer Sneakersnstuff has filed for bankruptcy after 26 years in business. The news, first reported by Ehandel.se, was confirmed by co-founder Peter Jansson, who expressed hope for the company's future despite recent struggles and US and Japan store closures.

Founded in 1999, Sneakersnstuff grew from a small boutique to a global brand with locations in major cities and collaborations with prominent sneaker labels. A majority stake was acquired by FSN Capital in 2018.

Co-founder Erik Manzano Fagerlind, who departed in 2022, remains optimistic about the brand's potential. While the Stockholm location is temporarily closed, Jansson assures that stores in Berlin, London, and Paris remain unaffected.

https://finance.yahoo.com/news/sneakersnstuff-files-bankruptcy-closing-u-191502596.html
  BENCHMARKS  
Loading Time: Base Classes  0.0009
Controller Execution Time ( News / News Details )  0.0128
Total Execution Time  0.0140
  GET DATA  
No GET data exists
  MEMORY USAGE  
786,696 bytes
  POST DATA  
No POST data exists
  URI STRING  
news/details/norwegian-owned-global-shoe-retailer-files-for-bankruptcy-in-sweden
  CLASS/METHOD  
news/news_details
  DATABASE:  insoleur_main   QUERIES: 46  (Show)
  HTTP HEADERS  (Show)
  SESSION DATA  (Show)
  CONFIG VARIABLES  (Show)