The Spanish footwear retailer Rumbo will close down after having failed to reach an agreement with its creditors to relaunch its business. The Murcia-based company has 68 stores and posted sales of about €25 million in 2019. Rumbo went into administration in June, but the court-appointed administrator, the legal firm Gescon Auditores y Abogados, did not reach a settlement with its creditors. The company will close its shops and sell its stock.

The company was founded in 1980 by José Meseguer and operates under the banners Rumbo, Rumbo Niños, Cancha, Toopsy, Marca Hispánica and Shoe Mart.