Investors who poured over $35 million into once-promising fashion startup Shoes of Prey are likely to be left empty-handed, with firms who invested in the business warning contributors they are not expecting any return from the liquidation process.
Shoes of Prey, a company that allowed women to order customised footwear at a cheaper price than typical bespoke shoes, entered liquidation yesterday, ending months of uncertainty about the companys future after it was put on pause in August last year.
Co-founder Michael Fox penned a blog post in light of the collapse, blaming the business downturn on its failure to crack mass-market adoption, high operational costs and ethical benchmarks for the companys shoe production.
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