Sneaker Jobs can confirm that the legendary Swedish sneaker store, Sneakersnstuff, has filed for bankruptcy & was confirmed by co-founder Peter Jansson in a recent Instagram post.
“The struggle is real”, were the words written by the co-founder of Sneakersnstuff, Peter Jansson, yesterday as it was announced that the iconic sneaker store had filed for bankruptcy. The current sneaker landscape is certainly a challenging one, with this latest news confirming even more causalities in the industry. To be clear filing for bankruptcy doesn’t mean the business is closing down, it basically means it (currently) can’t afford its debts. Bankruptcy offers a business breathing space to get their accounts back in order and write off debt, although it can have huge affects in obtaining future credit, which for a global business like Sneakersnstuff probably isn’t a good thing.
Sneakersnstuff was founded in 1999 by Erik Fagerlind and Peter Jansson who grew up in Stockholm during the 1980’s and 1990’s with a passion of sneakers. What lies ahead is not 100% known at this stage although we can confirm that for the 2023 financial year’ operating profit at Sneakersnstuff fell into the red at around $3 million. The Sneakersnstuff London, Berlin & Paris stores remain open whilst their flagship store is Stockholm is temporarily closed. 2024 saw the Swedish sneaker retailer close both of their US stores in Los Angeles, which opened in 20219 & their New York store which featured its own bar.
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. 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.
Peter Jansson – Co-founder Sneakersnstuff
Keep posted at Sneaker Jobs for further news surrounding the bankruptcy of Sneakersnstuff and let’s hope they really can turn things around. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
