In what year did Converse file for bankruptcy?

Converse filed for bankruptcy in 2001.

The filing occurred on January 22, 2001, after the company had spent years losing ground in the athletic-footwear market. Converse had once dominated U.S. basketball footwear, but competitors such as Nike, Adidas, Puma, and Reebok introduced newer materials, cushioning systems, and performance designs that weakened the company’s position.

The All Star remained culturally powerful, yet Converse had become heavily dependent on that brand while its basketball business declined. By 2000, mounting debt and repeated financial trouble had pushed the company into receivership. Bankruptcy followed early the next year, and Converse’s remaining U.S. manufacturing plants closed on March 30, 2001, as production moved overseas.

The bankruptcy did not end the brand. Footwear Acquisitions bought Converse out of bankruptcy in April 2001 and worked to revive it as a lifestyle and retro-fashion label. Nike acquired Converse in July 2003 for about $305 million, preserving the All Star name while expanding its distribution and product range. The dates 2003 and 2001 are therefore commonly confused: 2001 was the bankruptcy, while 2003 was the Nike acquisition.