Sneakersnstuff Files for Bankruptcy After Closing U.S. Stores
Sneakersnstuff, the influential Swedish sneaker boutique founded in 1999, has filed for bankruptcy.
Co-founder Peter Jansson confirmed the news Tuesday morning on Instagram following a Monday report from the Swedish outlet Ehandel on the company’s filing. According to another story from last week, Sneakersnstuff has made layoffs in addition to ceasing operations in the U.S. and Japan. During the 2023 financial year, operating profit fell in the negative to a tune of nearly $3 million.
“The struggle is real,” Jansson said in his Instagram post. “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.”
Sneakersnstuff’s stores in London, Berlin and Paris continue to be open, but Jansson said the original location in Stockholm is “temporarily” closed.
The Swedish boutique’s two U.S. outposts in New York City and Los Angeles were closed in 2024, and website listings have since characterized the closures as “temporary.” Beneath the New York City store, Sneakersnstuff operated a bar and event space that has also shuttered.
Co-founder Erik Manzano Fagerlind left the company in 2022, and his position as CEO was filled by Frederik Malm until October 2024. The position of CEO still remains open.
In an annual report from last fall cited by Ehandel, translated into English, Sneakersnstuff said it’s working to find new financiers after having receiving an injection of funds earlier in the year. It also pointed to the wider clothing and footwear market being impacted by “external factors such as high inflation, rising interest rates and geopolitical unrest.”
About the Author:
Ian Servantes is a Senior News Editor for Footwear News specializing in sneaker coverage. He’s previously reported on streetwear and sneakers at Input and Highsnobiety after beginning his career on the pop culture beat. He subscribes to the idea that “ball is life” and doesn’t fuss over his kicks getting dirty.