End of the road for Spanish footwear brand
Spanish media have reported that Seville-based footwear group Marypaz is to go into liquidation.
Once one of the country’s leading producers and retailers of footwear, the company had stores throughout Spain, as well as in international markets including Saudi Arabia, France and Kuwait. All of its 54 remaining stores are in Spain.
It began suffering financial difficulties in 2016. In 2019, it was brought out of administration by a Madrid-based investor, Álvaro Pellón.
The company Mr Pellón set up to run Marypaz, Crocea Mors, went into administration itself in 2023 and, according to reports, has been unable to renegotiate debt estimated at €20 million. Its sales revenues in 2023 were €29.6 million.
According to national newspaper ABC, an unnamed buyer has come forward with an offer to acquire the Marypaz brand, the factory where the company makes its shoes, 20 of its stores and around 100 of its 276 employees. It is not clear if this bid will prove successful.
