Maker of high-end slippers enters administration

Thu, 03 Jan 2019 | ADMINISTRATION



With a reputation for minimalism, Mahabis, a Scandinavian-inspired brand and the maker of high-end slippers, has gone into administration.

The company has appointed administrators from KRE Corporate Recovery, ceasing trading while the administration is underway.

The company sold £1.5 million worth of slippers in its first year, £10 million in the second, and over £20 million last year.

Although the exact reasons for the collapse remain unknown, it seems when a brand rises to fame extremely quickly, there can be difficulties in using a direct-to-consumer model.

Launched four years ago, Mahabis has sold nearly a million pairs of slippers in over 100 countries.
In a statement on its website, the company said: “[B]ear with us as we do our best to work through the current circumstances.

“Unfortunately, we are very sorry to report that Mahabis Limited entered administration.

“We have, for the moment, ceased trading as the administrators take over the business. During the four years since we launched, we sold nearly a million pairs of slippers to customers in over 100 countries; we are all desperately disappointed at this outcome.”

Joining the growing number of direct-to-consumer brands, Mahabis heavily used social media platforms to market to customers and with the wide availability of contract manufacturers, was able to make new products quickly and take payments using cheap computing infrastructure.

Its founder, Ankur Shah, set out to build the “Nike of downtime” and his social media presence of the cosy-looking slippers with a distinctive yellow rubber gained wide popularity on Instagram and Facebook.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Bathroom & Plumbing Supplies
Northamptonshire, UK Wide

Having been established since 1982, this bathroom and plumbing supplies business has grown under the ownership of our clients since it was purchased in 2007. This business boasts an envious reputation and a very strong repeat trade business, it is sa...

Asking Price: £1,100,000
Turnover: £1,146,075

Convenience & Supermarket Business
Walsall, West Midlands, UK

Convenience shop and accommodation available. Operating from a prominent residential trading location. No competition locally. Large Repeat Customer Base. Scope To Sub Let If Preferred. Free parking. Offers invited.

Asking Price: £295,000
Turnover: £884,000

Roller Shutter Door Business
West Midlands, UK

Long established business. Huge reputation and quality customer base. Strong gross profit achieved. Offers invited.

Asking Price: £420,000
Turnover: £430,000


View more businesses for sale

News Search

Latest News

 
05
 
Jun
 

Azzurri Group exploring options for sale | BUSINESS SALE

Azzurri Group has engaged advisers to explore a potential sa...

 
04
 
Jun
 

Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS

The Restaurant Group, which owns chains including Frankie & ...

 
03
 
Jun
 

28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
04
 
May
 

Family-owned Dorset motorcycle dealership enters administration | ADMINISTRATION

Dorset-based motorcycle dealership Three Cross Motorcycles h...

 
03
 
Jan
 

Fashion retailer files for administration | ADMINISTRATION

Fashion retailer Joy has filed notice of its intention to ap...

 
04
 
Mar
 

Online holiday site placed into liquidation | BUSINESS NEWS

A failed online holiday site has entered liquidation with &p...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources