Sneakersnstuff, a Swedish streetwear chain with stores in London, Berlin and the United States, filed for bankruptcy this week. The company was founded in 1999 by co-founder Peter Jansson, who confirmed the insolvency in an Instagram post after Swedish magazine Ehandel reported on it. Locations have already been closed in the USA and Japan, followed by numerous layoffs. In fiscal 2023, operating profit fell negative to nearly $3 million.
“It’s a tough fight,” Jansson said in his Instagram post. “Thank you for all the support from our employees, customers, suppliers and cooperation partners over these 26 years! Despite the struggles of the last few years, it has been an amazing journey. We have come a long way in restructuring SNS and I truly believe in our new business plan. Combined with a reboot from bankruptcy, I hope SNS will be able to continue this journey.”
The London, Berlin and Paris locations will continue to operate as planned; the store in Stockholm will only be temporarily closed, according to Jansson.
