Ittierre SpA in financial difficulties

The famous Italian clothing manufacturers Ittierre SpA in financial difficulties, failure, the Italian headquarters sent only to the worker’s salary in July, and some suppliers said Ittierre SpA defaulting on their payments. Ittierre SpA for Italy famous clothing manufacturer, agent brand including ygm, Tommy Hilfiger Collection, Jean Paul Gaultier menswear, top 2, Pierre Balmain, Guy Laroche and brands such as John Galliano. Antonio Bianchi owned by another company has Chloe Albisetti SpA agent production, Just Cavalli and Vivienne Westwood brand underwear and beach.
Ittierre SpA is reported to the boss Antonio Bianchi has said it would lay off and seek cooperation partners, Ittierre SpA at the same time submit to Isernia, Selma, debt repayment plan to avoid bankruptcy, but sources said won’t have much time for Ittierre SpA, if two months can’t find partners, again will be hard to avoid bankruptcy.
Antonio Bianchi acquisition Ittierre SpA in 2011, two years before the Ittierre SpA in bankruptcy protection, the sources said there are investors want to buy the Ittierre SpA.
According to WWD reports, Ittierre SpA is a total debt of 88.7 million euros, including unpaid wages payment of 6 million euros; 50 million euro default suppliers and agents; Owe the bank 32.7 million euros. , according to reports in Italy Ittierre SpA in 2012 and growth in the first half of 2012, the Ittierre SpA only produced a minimum output 2013 autumn/winter series.
On top of things, according to the market news, Italian Guardia di Finanza financial tax police are investigating the Ittierre SpA products, in the production without authorization and without authorization sales inventory.
Back in June this year fashion brand costume National clothing manufacturers Ittierre SpA to its main Costume National authority. Costume National more points are considering whether to terminate Ittierre SpA to its line C ‘N’ C of the agency contract, the contract can be signed in 2009, due in 2019.