The parent company of the MBT shoe, Masai Marketing and Trading AG filed for bankruptcy in its home market of Switzerland on Friday 11 May. According to the online business journal, Thurgauer Zeitung Online, this was because of the significant competitive pressure is the brand under which MBT had fallen in recent years.
“The management of Masai Group International (MGI) and the Board of Masai Marketing & Trading Ltd (MMT) against the background have the indebtedness situation in MGI and MMT decided that bankruptcy for both companies, the District Court of Winterthur to apply. “A turnaround in the current financial structure of the group was no longer possible, so that was carried out in recent months, an intensive search for a new investor. Potential investors were from the following detailed examination of market-related risks in the week 1 May decided not to submit a purchase offer. In order for the Board of Directors of MGI and the MMT had been obliged to make the application for bankruptcy.