Roberto Cavalli close to sales deal

Italy
Published:  17 June, 2019

The Italian luxury fashion label has reportedly received five acquisition offers, of which three were binding 100% of the Company.

In urgent need of a cash injection and without a creative director, Roberto Cavalli sought a deal with its creditors to keep the business running while it finds an investor. Of the five offers received by the Company, three are said to be binding offers for taking over the whole Group, one binding proposal for just some assets, as well as a non-binding expression of interest.

Together with its main shareholder Clessidra, which owns 90% of Roberto Cavalli, the Board is expected to choose an investor before the end of June. The final decision, however, remains with the bankruptcy court which had granted creditor protection to the label in April.

Source:  Reuters