MBT UK falls into administration

Masai GB Ltd, the UK distributor of MBT (Masai Barefoot Technology) footwear, has confirmed that

it has fallen into administration and has appointed Chris Laughton and Peter Godfrey-Evans of Mercer & Hole as joint administrators.

The administration of the UK arm follows the filing for bankruptcy in Switzerland of the group’s parent company, Masai Marketing & Trading AG earlier this month. In the UK, the company has a turnover of £8 million and operates 10 stores and a number of concessions, the administrators have confirmed that they will be working with the company’s management and staff to sell the business and/or its assets.

Chris Laughton said: “Our present intention is that the company’s retail stores will continue to operate. The appointment of Mercer & Hole as administrators coincides with the start of MBT’s 4-week summer sale promotion. This should improve the prospects for the business and will help us do the best we can for creditors.”