La Perla group said to be going into administration

La Perla Manufacturing, the Bologna-based company that acts as luxury lingerie group La Perla’s main producer, is reportedly about to go into administration. Administrators Francesco Paolo Bello, Francesca Pace and Gianluca Giorgi have filed a report on the company, which was declared bankrupt in early February, with the Bologna court. While Mimit, the Italian ministry for business and manufacturing, has said it is favourable to the administration procedure.

Mimit is hoping that the La Perla group’s two other entities, La Perla Global Management UK and La Perla Italia, will also go into administration. The former, a UK-registered company that owns the La Perla brand name and all its assets, including La Perla Manufacturing, has gone into liquidation both in Bologna and in London. La Perla Italia instead operates the brand’s stores.

“I think we will first have to wait for the Bologna court’s decision as to whether it is possible to extend the administration procedure to the group’s two other entities,” said Minister Adolfo Urso. “We will of course abide by the court’s decision. [Mimit] has quickly expressed its favourable opinion about the administrators’ indication. We have discussed the matter, and it is now up to the court to make its assessment. I am hoping they will be of a similar opinion, but it is of course their decision,” added Urso.

The possibility of La Perla being sold is more remote, given that both the Bologna court and the Italian government are against it. “Conditions aren’t yet ripe [for a sale],” said Urso, adding that it would be preferable if the court-appointed administrators “were able to reach an agreement with the British company.” It would be “a quicker solution than one involving a court case in two different justice systems.”

Meanwhile, stated Urso, “the administrators have said they have already received expressions of interest.” The sale will be discussed at a later date, while finally, after going without salary for five months, La Perla workers will have access to a wage guarantee fund by Easter, said Urso.

With ANSA