What a way to start the year!!
Luxury slipper brand, Mahabis have fallen into administration.
The firm are known for their multi-purpose slippers which are designed with detachable soles, so they can be worn both inside and outside the home.
Earlier this year, the founder of this 5-year-old company, Ankur Shah, said the ambition was for the company to become the ''Nike of downtime'', with sales on track to reach £20m. Backpacks, loungewear, watches and homewear were added to the product range.
On the companies website, a statement has been released to say: “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. Please bear with us as we do our best to work through the current circumstances.”
Customers who return goods are likely to not recieve a full refund, with any refund itself taking many months.