The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
:quality(70):focal(-5x45:5x55)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/FN5AXFRE2NA4XAUS27NXUEO3BY.jpg)
MILAN, Italy — A Milan court has granted creditor protection to Roberto Cavalli giving the troubled Italian fashion house up to 120 days to present a turnaround plan, two sources told Reuters on Monday.
Private equity firm Clessidra has been trying for months to sell its 90 percent stake in Cavalli which has posted a string of losses in recent years.
The Tuscany-based luxury group decided to ask for Chapter 11-like protection at the end of March to keep the business running while it finds a new investor.
Three investors including Italian fashion entrepreneur Renzo Rosso are eyeing a possible bid for the luxury label.
Cavalli was not immediately available for a comment.
By Claudia Cristoferi and Alfredo Faieta.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/QDRNASQP5FEXLKD4ZSUHHSEL4A.jpg)
:quality(70):focal(981x283:991x293)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/2VQF26H7BRGC5E6D2EVCMZ4JFQ.png)
:quality(70):focal(621x545:631x555)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/UPLYJ4DVYRCJVHHCJ55WWCJO2I.png)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/businessoffashion/EYRVVV252ZB5VEYTQH2HDL3X3M.png)
