Stockholm-born sneaker boutique Sneakersnstuff has filed for bankruptcy. News of the filing was first reported by Ehandel.se and confirmed by the store’s co-founder Peter Jansson on social media.
News of Sneakersnstuff’s bankruptcy comes on the heels of Ehandel.se reporting last week that the store has reduced its workforce and closed all of its US locations.
“The struggle is real. Thanks for all the support from our staff, customers, suppliers and collaboration partners during these 26 years! Despite the struggle the last couple of years, it’s been an amazing journey,” Jansson wrote in an Instagram post. “We’ve come a long way in the restructuring of SNS and I really believe in our new business plan. In combination with a reset from the bankruptcy, I hope SNS will be able to continue this journey.”
Sneakernstuff was founded by Jansson and Erik Manzano Fagerlind in 1999 and started as a small sneaker boutique located in Södermalm, Stockholm. Over the years, the store expanded globally, with storefronts in Berlin, New York, London, Los Angeles, Paris, and Tokyo, and became a major collaborator amongst sneaker brands.
In 2018, Norwegian venture capital firm FSN Capital acquired a majority of Sneakersnstuf and currently owns 60 percent of the company. Fagerlind departed from SNS in 2022 but still serves as a board member of the company.
“For me personally, it has been tough to watch the development over the past years since I left the company. I believe SNS has meant a lot to a lot of people over the past 26 years, and I am so grateful for everything I got to experience and all the things we got to do with it,” Fagerlind told Complex. “I believe SNS is still a strong brand that could come back and mean something again. I’d love to see that happening. I’d be here for that.”
Jansson says that Sneakernstuff’s stores in Berlin, London, and Paris, which operate under different companies, are unaffected by the bankruptcy. Jansson added that while the original SNS location in Stockholm is closed at the moment, there are plans to reopen the store soon for a blowout sale.
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