We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Jul 6, 20203:36am

Roberto Cavalli, 120 days to present a new restructuring plan

The Italian fashion company is in full process to find a buyer. Among the interested parties are Bluestar, Alliance, OTB by Renzo Rosso and Philipp Plein.

Apr 9, 2019 — 12:00pm
mds
Save

Roberto Cavalli, 120 days to present a new restructuring plan

 

 

The judge grants a truce to Roberto Cavalli. According to Reuters, the Court of Milan gave the Italian company 120 days to present a restructuring plan for its business while it keeps looking for a buyer.

 

The company, which presented an interim strategy to reduce costs, aims to save 21 million euros. To do so, the company will close non-strategic stores, reduce its investment in marketing and cut the financing of its foreign subsidiaries.

 

This moves comes a few days after the group’s US subsidiary, which operates under the name of ArtFashion Corp, filed for Chapter 7.

 

The Italian company is undergoing a process to find a new buyer. The company, currently owned by the Clessidra fund, has three main stakeholders: Phillip Plein, OTB and a US investment fund.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...