Peter Jansson, co-founder of the streetwear retailer Sneakersnstuff that specialised in limited-edition sneakers, has announced the company has been placed in judicial receivership, while its European stores are still open.

​Sneakersnstuff (SNS) is a streetwear and sneakers retailer with which many top brands are regularly collaborating, featuring initiatives like a running event in collaboration with Adidas in Paris, the drop of a Timberland model’s new edition, and product launches with Nike, Salomon and New Balance at the SNS stores in Stockholm, Paris and Berlin. In the mid-2010s, the directional Swedish retailer founded in the early 2000s decided to deploy elsewhere in Europe. Competing with many new players in this growing segment, SNS managed to open stores in London, Berlin and Paris. With the backing of Norwegian investment firm FSN Capital, which bought a majority stake in SNS in 2018, the retailer also opened in New York, Los Angeles and Tokyo.

But, as has happened to resale specialists dealing with collector’s items and exclusive collaborations, which have faced very tough challenges in recent years, high-street retailers too have eventually been affected by the leading sneakers brands’ strategy of streamlining their range, and the generalised slowdown in sneakers consumption.

SNS recently had to close its US and Japanese stores. Now Peter Jansson (who co-founded the company with Erik Fagerlind) has announced on Instagram that the company was placed in receivership in Stockholm on January 20.

“The problem is real. Thank you to our staff, customers, suppliers and collaboration partners for their support over the past 26 years! Despite the difficulties we experienced in the last two years, it has been an extraordinary journey. We have come a long way in restructuring SNS, and I really believe in our new business plan. Following a complete reset after the judicial receivership proceedings, I hope SNS will be able to continue on its way,” wrote Jansson.

Swedish media said that the company has been restructured, and has 68 employees at its headquarters. According to information filed in Sweden, SNS recorded sales of more than SEK580 million (over €50 million) in 2023, but also losses exceeding SEK140 million. In previous years, the company rarely managed to balance its books.

“Due to persistent financial difficulties owing to the global decline of the limited-edition sneakers market, SNS AB has filed for bankruptcy. All its other international entities, i.e. the physical SNS stores in Paris, Berlin and London, as well as sneakersnstuff.com for customers based in the US and the UK, will continue to operate as usual,” stated the management.