Rest assured, Wethenew has not yet gone out of business like its competitors Restocks and Kikikickz. Placed in receivership on August 6, 2024 by the Paris commercial court following financial difficulties, the WTN company hopes to recover thanks to a reorganization plan. But what does this really mean?
Judicial receivership is a procedure initiated when the company can no longer pay its debts. This period of respite is intended to give him a chance to restructure his finances while continuing his activities.
So, the bankruptcy of Wethenew is not yet news!
Wethenew's suppliers can hope to get some of their money back, but much depends on the success of the recovery plan . If it succeeds, they could be reimbursed gradually. However, the risk of losses exists if the business fails to stabilize.
Let's hope that Wethenew's financial situation is more favorable than that of Kikikickz and Restocks, whose suppliers are still waiting.
Source: Notice of modification to the Wethenew RCS, available on Infogreffe.fr.
If Wethenew were to close, its competitors could take over its market share, attracting customers and suppliers looking for a new platform.
Such a situation could also reduce the supply of rare trainers , leading to higher prices.
In addition, the fall of big resell names has already shaken consumer confidence. Wethenew's receivership will certainly not improve this perception.
The future of Wethenew is uncertain, but let's see if Wethenew will manage to bounce back or if we will witness the disappearance of another major player in trainers resale.
*Disclaimer: This article is intended for general information purposes and reflects the opinions of the author as of the date of publication. The information contained in this article is from sources believed to be reliable but cannot be guaranteed to be accurate or complete. Wethenew and other brands mentioned may have specific rights and legal situations not covered in this article. Readers are advised to consult professional legal advisors for specific advice.*
The resale market for trainers and collectible clothing is projected to reach $30 billion by 2030. Improper care can drastically reduce the value of your most prized items. Studies show that well-maintained items retain up to 80% of their original value , while poorly cared-for pieces quickly lose their appeal. Let's explore the fatal mistakes to avoid to preserve the value of your collectibles.
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