According to Teikoku Databank, Swagger LLC (Jingumae, Shibuya Ward, CEO Hidehiro Iguchi) and Allison Co., Ltd. (Sarugakucho, Shibuya Ward, CEO Yutaro Arakawa), which plan and sell the men's brands "SWAGGER" and "PHENOMENON," have filed for bankruptcy.
Swagger boasted annual sales of approximately 1.372 billion yen in the fiscal year ending August 2007, but struggled with both in-store retail and mail order sales due to a prolonged consumer slump. In May 2008, the company sold its building and relocated its flagship store, among other cost-cutting measures. However, annual sales for the fiscal year ending August 2011 fell to approximately 1.076 billion yen, worsening cash flow. Business conditions have yet to recover.
Swagger is a domestic brand founded by the current CEO, a member of the hip-hop group "SHAKKAZOMBIE." They are a driving force in the street fashion scene, with a focus on hip-hop. Member Big O, also known as Osumi Takeshi, launched PHENOMENON and spun it off to form Allison in January 2011. PHENOMENON is a trending brand that represents Tokyo, having presented runway shows at Tokyo Collection.

As of January 31st, Swagger's debts were approximately 547 million yen. Allison's debts are currently under investigation.