Furla, refinancing and restructuring debt. The Bologna-based leather goods brand has entered the negotiated debt settlement procedure, which only concerns financial debts. At the same time, it has allocated EUR 25 million.
Furla enters the negotiated debt settlement procedure
Furla decided to use the negotiated settlement procedure to restructure its debts to banks. According to Bloomberg, at the end of 2022, the company led by the Furlanetto family had debts for EUR 154 million with banks. “Furla considered that access to the procedure allows it to conduct a negotiation involving exclusively its financial creditors in the most appropriate framework”, is the comment the company made to MF Fashion. Furla is reportedly working on a plan to present to creditors.
25 million euros
The decision follows the 2021 and 2022 financial statements closed with a loss. Official figures for 2023 are not available. Furla CEO Giorgio Presca had told MF Fashion that 2023 had “a positive first half and a difficult second half”. The company described the market environment in the first half of 2024 as “highly volatile”. The Bolognese brand’s sales are influenced by the Chinese market, which has certainly not shone in recent months. “To support the transformation and transition process underway”, the ownership has committed to refinance the company by paying EUR 25 million.
