Sneaker Marketplace Laced Enters Administration and Is Closing
Popular European and UK sneaker and luxury goods marketplace Laced has entered administration after an 11-year history.
Laced, which facilitated the buying and selling of limited-edition sneakers and luxury goods across the UK and Europe, has entered administration and liquidation after 11 years of operation.
Company Enters Administration
Founded in 2015 and connecting buyers and sellers across the UK and Europe, Laced has entered administration after 11 years of operation.
According to official records, Terri Mulgrew and Michael Kiely of Quantuma Advisory Limited were appointed as joint administrators of Laced on September 22.
Cessation of Operations
Although the company has entered administration, Laced's website and mobile application temporarily continue to operate.
Official sources stated that the platform will remain open for only a few more weeks before closing completely.
Platform's Operating Model
Laced served as an online marketplace where products from popular brands such as Nike, Adidas, Air Jordan, Supreme, and UGG were bought and sold.
One of the platform's key features was that products put up for sale were inspected against various criteria, including authenticity, before being shipped to the buyer.
Liquidation Process and Records
In line with official records regarding the company, it is reported that the liquidation process is also on the agenda and proceedings are underway.
Information regarding the administration of Laced Europe Ltd is also featured on platforms tracking insolvency proceedings.