Italia Independent on the verge of liquidation
Italia Independent, a well-known company in the eyewear sector founded by Lapo Elkann, may be on the verge of liquidation. In a statement published last Friday, it was announced that the shareholders' meeting will have to decide on the dissolution and liquidation of the company in the event that binding capitalization offers are not received by the date of the meeting.
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The CEO, Marco Cordeddu, explains that this decision is the natural conclusion of the recovery process undertaken by the company. Thanks to the significant financial support of Lapo Elkann, the main shareholder, the debt recovery procedures were completed in the first half of the year. Elkann, in addition to having supported the company with an outlay of over 25 million euros, has paid additional personal resources of over 12.8 million to ensure the success of the operation.
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During this process, in September, the Italia Independent brand in the eyewear sector was sold to Modo Group for one million euros. This disposal left the group companies without further operational activities, creating a need to bring the decision to dissolve and liquidate the company to the attention of shareholders.
The board of directors, however, decided to explore the interest of third parties in the continuation of the activities as an alternative. In case of failure to commit to a capital increase suitable to support an industrial and financial plan of at least five years, the assembly will have to take the decision on the liquidation of the group companies.
It is important to note that, in addition to the previous decisions, the board of directors also decided on the change in the company name. This change is necessary following the agreement to transfer the Italia Independent brand to M Group.
The future of Italia Independent is now uncertain, with the company at a crucial turning point in its history. The outcome of the shareholders' meeting will determine whether the company will find a new life through a capitalization plan or whether it will be forced to embark on the path of liquidation.
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