Pasito Fricker, the Swiss shoe retailer previously owned by Görtz, has gone bankrupt. The retail chain was experiencing difficulties becaus e of a diversion of shopping tourism from Switzerland to neighboring countries and increasing competition from online retailers. The recent coronavirus-related retail lockdown worsened the situation as the company was unable to generate sales for several weeks. Pasito Fricker could not obtain a bridge loan from the Swiss banks and it eventually ran into insolvency. The coronavirus-related shutdown had made it impossible for PasitoFricker to pursue its restructuring. The Swiss shoe retail chain has 23 stores in Switzerland and currently employs 69 people. Guido Fluri, the former majority shareholder of Pasito Fricker, sold most of his shares to various unnamed private investors in July 2018. Fluri had acquired the Swiss retailer for €4.3 million from the Ludwig Görtz group in 2017.