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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
Reported in EU Today, Germany is experiencing its highest corporate bankruptcy rates since 2009, driven by rising costs, high interest rates, and reduced state support.
According to a study conducted by the Halle Institute for Economic Research (IWH) in late 2024, 4,215 companies declared bankruptcy, a 36% year-on-year increase, resulting in nearly 38,000 job losses. The surge reflects challenges in adapting to rising borrowing costs and the withdrawal of pandemic-era subsidies. Key sectors hit include services (47% rise) and manufacturing (32% rise), impacted by inflation, energy costs, and supply chain issues.
The trend underscores broader economic vulnerabilities in Germany, Europe’s largest economy, affecting consumer confidence, employment, and growth. Policymakers face tough decisions to balance inflation control and business relief, while structural reforms are needed to address long-term challenges. Germany’s struggles highlight risks for other European economies amid global economic pressures.
Source: https://eutoday.net/germany-faces-unprecedented-bankruptcy-surge/
Neville Taylor, 57, has been disqualified for nine years for his involvement in a scheme to circumvent UK insolvency laws. He was paid over £250,000 by corporate rescue firm Atherton Corporate (UK) Ltd, to become the sole director of more than 400 firms, including 12 that ceased trading but had not entered liquidation.
When these companies eventually liquidated, over £7.6 million in assets were unaccounted for, despite initially holding assets worth £8.2 million. The Insolvency Service strongly condemned Taylor's actions, emphasizing that they will not tolerate individuals who evade their legal responsibilities as directors or facilitate schemes that undermine the insolvency system. Taylor's disqualification serves as a warning to those who may consider engaging in similar actions. They also stated that Taylor breached his duties by obstructing liquidators and failing to identify or recover company assets, causing significant losses to creditors and enabling ‘phoenixism’.
As reported by the BBC, the ban prevents him from managing his existing companies and others across multiple UK locations.
Source: https://www.bbc.co.uk/news/articles/c8j94np0193o
- Strengthening the mechanism of reporting at the stage of risk management
- Enhancement of efficiency of the enforcement proceedings before FINMA
- A more stringent implementation of requirements on quality and quantity of the capital of systemic banks
- Improvement of transparency of audits made by public authorities and in situations of crisis
- Adaptation in case of digital bank run at the international level
- Centralisation of supervision and audit of systemic banks to FINMA
- Strengthening the involvement and powers of the Federal Competition Commission COMCO vis-à-vis FINMA
The full Press Release can be read here:
Federal Council issues opiniohttps://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-103689.htmln on report of Parliamentary Investigation Committee concerning Credit Suisse
Companies like Arrival, Cazoo, and Infarm exemplify high-profile failures due to unsustainable growth, debt burdens, or operational inefficiencies. Despite raising substantial funding, they succumbed to market pressures, including rising costs, economic shifts, and competitive challenges.
Even promising sectors like mobility (Cake, Vässla) and deeptech (Prophesee) saw setbacks, with companies facing funding delays and project failures. Some, like Lilium, hope for revival through acquisitions, but these cases underscore the fragility of ambitious, capital-intensive ventures in turbulent times.
RIP: The startups that went bust in 2024 | Sifte