Sports compression manufacturer SKINS has filed for bankruptcy in a Swiss court, with its chairman Jaimie Fuller pointing to the global financial crisis as the beginning of the end.

A trustee will be appointed to assume responsibility for the company with almost immediate effect, Mr Fuller announced on social media and his ‘watercooler’ SKINS website.

SKINS chairman Jaimie Fuller said the company has filed for bankruptcy. Credit:Luis Ascui

The Australian businessman and sports activist, often described as the ‘Bob Geldof of sport’, bought SKINS in 2002 and positioned himself as an advocate for stamping out corruption within the sports industry.

The brand has attracted a cult-like global following, selling in 31 countries. It started in Australia in 1996 by ski enthusiast Brad Duffy, with its headquarters now in Switzerland.