×
1 236
Fashion Jobs
NIKE
HR Operations Consultant, London
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 7.5 Hours - Part-Time - Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots Kingston - 15 Hours - Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
Clinique - Consultant - House of Fraser, Norwich - 30 Hours - Full Time, Permanent
Permanent · Norwich
ESTÉE LAUDER
Clinique - Consultant - Boots, Milton Keynes - 14 Hours - Part Time, Permanent
Permanent · Milton Keynes
ESTÉE LAUDER
Clinique - Consultant - Edinburgh, Boots - Fort Kinnaird - 11.5 Hours - Part Time - Permanent
Permanent · Edinburgh
ESTÉE LAUDER
Clinique - Consultant - Stockton, Boots Teeside - 22 Hours - Part Time - Permanent
Permanent · Stockton-on-Tees
ESTÉE LAUDER
Clinique - Consultant - Boots, Uxbridge - 7.5 Hours - Part Time, Permanent
Permanent · Uxbridge
ESTÉE LAUDER
Clinique - Consultant - Boots Stratford City e20 - 7.5 Hours - Permanent
Permanent · London
ICEBREAKER
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Chelmsford - 15 Hours - Permanent
Permanent · Chelmsford
SHISEIDO
Field Trainer & Events Manager - Laura Mercier
Permanent · London
SHISEIDO
Bareminerals Account Manager - Boots, Croydon (26 Hours)
Permanent · Grand Londres
SHISEIDO
Bareminerals Account Manager - Boots, Kingston (18.75 Hours)
Permanent · Grand Londres
ESTÉE LAUDER
Clinique - Consultant - Boots, Brent Cross - 6 Hours - Part Time, Permanent
Permanent · London
CONFIDENTIAL
Business Head- Retail
Permanent · DUBAI
THE NORTH FACE
Credit Controller - German Speaking - The North Face
Permanent · CALVERTON
LEVI'S
Senior Product Manager, Digital Partner Selling
Permanent · London
LEVI'S
Ecommerce Project Manager
Permanent · London
LEVI'S
Ecommerce Business Analyst
Permanent · London
SHISEIDO
Brand Manager Nars
Permanent · London
THE NORTH FACE
Credit Controller - Italian Speaking - The North Face
Permanent · CALVERTON
Advertisements
By
Reuters
Published
Jun 6, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Stefanel shares suspended as fashion brand struggles to survive

By
Reuters
Published
Jun 6, 2019

Shares in Stefanel were suspended on Thursday until further notice after the troubled Italian clothing group said it would apply for special administration under bankruptcy law.

@stefanel


The move is a last bid for survival for the 60-year-old fashion brand, globally known in the 1980s along with rival Benetton as a retail chain of affordable Italian fashion.

In recent years it has been heavily hit by increasing competition from fast-fashion giants and e-commerce.

In 2017, after a debt restructuring, investment fund Attestor Capital took control of the financially stressed company through a capital increase that diluted the stake of founder Giuseppe Stefanel to 16%.

The re-launch failed to succeed and Stefanel, which has been without a CEO since July last year, decided in December to seek creditor protection.

It had time until mid-June to present a restructuring plan to a bankruptcy court but it couldn’t reach agreement with the holders of its 40 million euros debt — creditor banks and Attestor itself.

“The decision was required because of the big amount of money to be used to refund creditors next year, resources which would have thus been taken away from the recovery plan,” the company’s board said in a letter to employees on Thursday.

Reuters has seen a copy of the letter.

“The board believed that placing the company under special administration will better preserve Stefanel relaunch.”

Under Italian law, a court will have to declare the company to be insolvent and then appoint one or more special administrators tasked with coming up with a new restructuring plan in an attempt to avoid liquidation.

© Thomson Reuters 2021 All rights reserved.