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Italian retail chain Coin received the approval of Venice Court for its debt restructuring plan (see here a previous post by BeBeez). Further to carry on a reported recapitalization of 33.2 million euros, Coin received a 15 million working capital facility from Generalfinance. GA-Grimaldi, Adacta Tax & Legal, DLA Piper, Ranalli & Associati KPMG Advisory, and Alvarez & Marsal assisted the borrower. Sagitta and SPV Project 2402 previously acquired Coin’s UTPs and retained Cappelli Riolo Calderaro Crisostomo Del Din & Partners while Invitalia hired BonelliErede. Linklaters assisted the company’s financial creditors. Sources said to BeBeez that the company could be profitable again in 2026 and seek for new investors. Andrea Gabola and and Matteo Cosmi are the chairman and ceo of Coin.
Prima Industrie, an Italian company that Alpha Private Equity and Peninsula Capital delisted in 2023 from Milan market, attracted a 90 million euros mid and long-term debt facility from Banca Nazionale del Lavoro, Intesa Sanpaolo, Banco BPM, UniCredit, Banca Monte dei Paschi di Siena, and BPER Banca (see here a previous post by BeBeez). The company will invest such proceeds in its working capital and refinancing part of its liabilities. Prima Industrie retained Essentia Advisory and Chiomenti while the lenders hired PedersoliGattai. Prima Industrie has sales of 568.6 million, an ebitda of 47.5 million, a net financial debt of 93.7 million, and equity of 191.9 million.
Milan Court decided for a one-year judicial administration of Loro Piana, a high-end fashion firm for which Antoine Arnault acts as chairman (see here a previous post by BeBeez). The prosecutors said that the company did not comply with Italian labor law and did not implement a thorough enough internal audit system. In 2013, LVMH-Moet Hennessy Louis Vuitton acquired 80% of Loro Piana for 2 billion euros.
Naples Court accepted the receivership application of Italian supermarkets chain GDM which retained GA-Grimaldi Alliance (see here a previous post by BeBeez). GDM belongs to Giovanni Longobardi and Filomena Laezza. The company has sales of 10.3 million euros, an ebitda of minus 3.8 million, net losses of 6.5 million, a net financial debt of 5.8 million, and equity of minus 15 million.
Banca AideXa appointed Andrea Scaccabarozzi as chief lending officer (see here a previous post by BeBeez).The executive is a Bocconi University alumnus and previously worked for Deutsche Bank, KPMG, Arab Banking Corporation and Fortis Bank.
