Trussardi has filed for bankruptcy. The current management is handing over the reins to a team of experts in corporate restructuring.
Not everyone is enjoying the euphoria of luxury. Trussardi has called for a “crisis recomposition procedure,” the Italian equivalent of the French safeguard procedure. Its CEO Sebastian Suhl and the other members of the board of directors of the luxury house have thrown in the towel. Corporate restructuring experts from 3XCapital are taking over to try to turn around the affordable luxury house.
Present in 47 countries, Trussardi had nevertheless been acquired at 60% in 2019 by the transalpine asset management company QuattroR, with 40% remaining in the hands of the family.
Huge dept
But this momentum was not enough for the company, founded in 1911 in Bergamo, to cope with its difficulties. Present in leather goods, accessories, ready-to-wear, and perfumes, it is burdened by a debt of 50 million euros, while its annual turnover is only 80 million euros.
The decision of a distributor to stop the delivery of Trussardi products due to unpaid bills seems to have been the final blow.
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