Italy's Clothing Brand Declared Bankrupt By Overseas Private Equity Fund Acquisition

According to the world clothing shoes and hats net, in October 20th, Italy Modena Modena court ruled: Italy high-end

Apparel manufacturer Via delle Perle S.p.A is bankrupt.

This is also the 13 day of the Italy Venice court movement.

The brand MCS (formerly known as Marlboro Classics) and the Marina Yachting, Henry Cotton 's's parent company Industries Sportswear Company have been ruled bankrupt by the Italy clothing brand which was purchased by overseas private equity fund. (details are reported: three Italy sports fashion brands declared bankrupt), such as the British private equity fund acquisition and the acquisition of buyout.

Via delle Perle S.p.A was founded in the year of 1984 by Edmondo Tirelli, Nunziella Saltini and Glauco Verrini. After engaging in the production of underwear in the early years, it gradually expanded its business scope. Now it is mainly engaged in the design, production and sale of women's clothing, and is deeply loved by consumers for its outstanding female characteristics and modern fashion style.

The company is headquartered in Carpi, a city in central Italy.

Nowadays, the products of Via delle Perle S.p.A are mainly through many products.

There are 300 multi brand stores in Italy, and 350 is located overseas, mainly in Russia, the Middle East, France and China.

In addition, Via delle Perle S.p.A also has 7 flagship stores.

In 2013, the European private equity fund Argos Soditic acquired some of the shares of Via delle Perle S.p.A, and the sales of Via delle Perle S.p.A in 2012 amounted to 40 million euros, of which sales accounted for 60% of the overseas market.

When Via delle Perle S.p.A declared bankruptcy, Argos Soditic held its 75% stake.

Via delle Perle S.p.A has been in crisis for some time.

As early as February this year, the Modena court accepted the application for renewal of Via delle Perle S.p.A, but the application was withdrawn in early October.

Italy media Pambianco News reported in July this year that potential acquirers were willing to take over Via delle Perle S.p.A. However, there was no such thing as Via delle Perle S.p.A finally escaped bankruptcy.

According to Italy media MF Fashion, most creditors, including a bank, have rejected the proposal to pfer 5% equity interest to the company.

At the same time, the Via delle Perle S.p.A was closed and the next week the bankruptcy trustee will be consulted with 35 staff representatives.

The union estimates that the debt of Via delle Perle S.p.A is about 30 million, but the actual situation may be even worse.

An independent private equity fund group in Europe mainly invested 10 million to 1 billion euros in medium-sized enterprises with sales ranging from 20 million euros to 600 million euros. The company has offices in Brussels, Frankfurt, Geneva, Milan and Paris.

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