Particle.news
Download on the App Store
4 ARTICLES
·
last wk.

LuisaViaRoma Launches Chamber-Led Debt Restructuring With Interim Court Protections

A Florence court hearing on Aug. 27 will decide whether the retailer can pause enforcement actions under a commissioner-led process with more than 1,250 creditors.

Image
Image
Image

Overview

  • The company has formally entered the voluntary “Composizione Negoziata della Crisi” process overseen by the Italian Chamber of Commerce, appointing Alessandro Angelo Solidoro to negotiate with creditors.
  • Court filings show LuisaViaRoma faces claims from over 1,250 creditors and carries about €30 million in financial debt after its UniCredit facility expired in July.
  • A recent capital increase just under €20 million aimed to shore up liquidity ahead of the tribunal’s review of temporary protection measures.
  • Cost-cutting initiatives include a roughly 20 percent reduction in corporate headcount, closure of the Milan office, planned store closures and warehouse consolidation.
  • CEO Tommaso Maria Andorlini has described the restructuring as a strategic reset focused on boosting margins through private labels and a new marketplace model.