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 23/05/2012Drapers, Ruth Faulkner - MBT UK slips into administration  
 
 

Masai GB Ltd has fallen

 
 Drapers has reported Masai GB Ltd, the UK arm of comfort footwear brand MBT, has fallen into administration.
Chris Laughton and Peter Godfrey-Evans of Mercer & Hole have been appointed as joint administrators of the business last Thursday.
This follows the bankruptcy in Switzerland of the group’s parent company, Masai Marketing & Trading AG, on May 7.
The administrators will now work with the company’s management and staff to sell the business and/or its assets.
"Our present intention is that the company’s retail stores will continue to operate" Laughton said.
"The appointment of Mercer & Hole as administrators coincides with the start of MBT’s four-week summer sale promotion. This should improve the prospects for the business and will help us do the best we can for creditors."
At the time Masai Marketing & Trading AG filed for bankruptcy an MBT UK spokesman told Drapers that the UK arm of the company remained solvent and would carry on trading as usual through its 100 wholesale stockists and eight standalone stores.
  
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