The encyclopedia · Strategy & Leadership · Strategic decision · 1920–2026
Marukyu (丸久), 106-year-old Kurume Kasuri wholesaler, bankrupt in 2026
Marukyu led Kurume Kasuri fabric for a century, then traded it for uniform wholesale — sales fell from ¥1B to insolvency by 2026.
Marukyu (丸久株式会社) · 2026-06-22
What happened
Marukyu was founded in Kurume in 1920 as the 'head of Kurume Kasuri' — the hub of the trade in the region's traditional indigo kasuri cotton. For decades the company sat at the centre of a craft with its own name recognition across Japan.
As demand for traditional kasuri shrank, Marukyu shifted its business to uniform wholesale. Sales had once reached about ¥1 billion, but the pivot put the company in a commodity market where it had no heritage to lean on, and sales slid toward insolvency.
The company stopped business on 8 October 2025 and entered bankruptcy preparation. The Fukuoka District Court, Kurume Branch, issued a bankruptcy commencement order on 22 June 2026, with total liabilities of about ¥28 million — the end of a 106-year-old business.
Why it happened
- The core product died slowly: demand for traditional kasuri fell for decades and no amount of heritage kept the craft's market alive.
- The pivot into uniform wholesale landed in a commoditised, price-driven market where a fabric-trade name carried no advantage.
- A century of history was no cash buffer: when sales collapsed after years of decline, there were no reserves left to absorb it.
The lesson
Heritage is not a moat: Marukyu swapped a dying craft for a commodity wholesale market, and a century of Kurume Kasuri leadership did not survive the move.
Aftermath
Marukyu stopped business on 8 October 2025 and applied for bankruptcy. The Fukuoka District Court, Kurume Branch, issued a bankruptcy commencement order on 22 June 2026; Tokyo Shoko Research estimated liabilities at about ¥28 million. The company, founded in 1920 as the head of the Kurume Kasuri trade, had shifted to uniform wholesale and seen sales fall from about ¥1 billion into insolvency.
Sources
spotted an error? The club wants to know.
More like this
Boston Nine (ボストン-ナイン), Fukuoka apparel maker, bankrupt after 48 years in 2026
Curetex (キュアテックス), Tokyo washi-fiber textile maker, bankrupt in 2026
Forme (フォルム), Toyama select-shop chain, bankrupt in July 2026
Somewhere, someone solved the problem this company failed at. 2nd Opinion →
Comments · 0
Sign in to join the comments.