Masai GB Limited (04369393): administration
- Status
- Administration ended
- Administration began
- 2012-05-17
- Formerly
- Masai By Fisher Limited
- Incorporated
- 2002-02-07
- Location
- London
- Industry
- 5232
Why it went into administration
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
MBT (Masai Barefoot Technology) footwear originally came to the market place in 1996 The shoe was designed to encourage the natura! instability of the body which would then, when walking, encourage muscle groups to work to stabilise the body Wearers of the MBT shoes were found to have found that back, neck and other associated pains were alleviated and in many cases negated by the continuous wearing of the shoes
During the decade from 1996 demand for the product grew and ultimately MBT shoes were sold in 55 countries around the world During this expansion period Masa GB Limited was incorporated on 7 February 2002 (originally incorporated as Masai by Fisher Limited, with the name being changed on 13 July 2007) The purpose of the Company was to be the brand's UK distributor, selling MBT shoes directly in the retail market and as a wholesaler to other retail outlets The shares in Masai GB Limited ("MBT") were owned by the parent company Masai Group International GmbH ("MGI") tn addition a sister company, Masai Marketing and Trading AG ("MMT"), had been set up, and this company dealt with the design and production of the shoes which were manufactured in factories in the far east, then transported to Luxemburg and held in a central distribution warehouse MBT purchased stock from MMT
In June 2007 Berkshire Partners LLC invested in and became a major shareholder of the group Sales continued to grow and in 2009 sales of the product in the UK reached a peak of 160,000 pairs It was though, during this year, that the market saw the introduction of “toning shoes” such as Sketchers Shape-ups, Fit Flops and Reebok Easytone, which undermined MBT’s positioning tn the market
Administrators' statement of proposals (2012-07-12) · Companies House register