Mud Jeans files bankruptcy after failing to overcome debt burden

Co-owner and CEO Dion Vijgeboom announced the determination connected LinkedIn, stating the fiscal load of historical indebtedness yet proved "too large to overcome".

"Today is 1 of the hardest days successful the past of Mud Jeans. With large sadness, we person to stock that MUD Jeans has been declared bankrupt, pursuing the bankruptcy filing we submitted ourselves," said Vijgeboom.

Founded successful 2012, Mud Jeans claims to beryllium the archetypal circular denim marque successful the world, recognised for its 'Lease A Jeans' model.

The institution is based successful Amsterdam, Noord-Holland, and, according to its LinkedIn profile, has 11-50 employees and 40 associated members.

The marque produced jeans utilizing recycled fabric and introduced repair and take-back services earlier specified practices became wide adopted successful the industry.

The bankruptcy filing follows a caller crowdfunding run launched by Mud Jeans past month, which aimed to rise €300,000 ($343,000) to fortify moving superior and inventory management, arsenic good arsenic to enactment maturation successful the Netherlands, Belgium, and the DACH region.

In 2024, it completed a assemblage backing round, generating €1m from 800 investors.

The company's website indicates it is presently undergoing maintenance, pausing caller purchases temporarily. Orders already placed volition inactive beryllium shipped.

Vijgeboom continued: "This is not the ending we fought for. Over the past months, our squad worked tirelessly to physique a sustainable aboriginal for this company. We believed determination was a mode forward. But contempt each our efforts, the fiscal load of historical indebtedness yet proved excessively large to overcome."

Vijgeboom added that portion the determination is painful, helium hopes this bankruptcy is not the "final chapter" for Mud Jeans.

"MUD Jeans is much than a company. It is an idea, a assemblage and a blueprint for what the aboriginal of manner tin look like. We judge this brand, its products, its assemblage and everything it stands for merit a future. Some stories merit different chapter. We sincerely anticipation MUD Jeans is 1 of them," helium said.

"Mud Jeans files bankruptcy aft failing to flooded indebtedness load " was primitively created and published by Just Style, a GlobalData owned brand.