La Perla Sees Hope Amidst Financial Turmoil
A Bologna, Italy, court has ruled in favor of putting La Perla Manufacturing Srl, the troubled luxury innerwear brand’s Italy-based manufacturing arm, into judicial administration. This move aims to ensure business continuity and job preservation, providing a glimmer of hope for the brand amidst its recent chaos.
In February, the same court had declared La Perla Manufacturing Srl insolvent and appointed commissioners to navigate the Italian subsidiary out of its financial struggles. As per Italian law, the Ministry of Enterprises and Made in Italy is expected to appoint extraordinary commissioners this week to lead the judicial administration and present a plan to restart operations within the next two months.
Following the departure of the brand’s owner Tennor, La Perla Global Management U.K. is undergoing judicial liquidation in the U.K. and Italy, as it controls the Italian subsidiaries. The Italian La Perla Manufacturing Srl employs around 330 workers, with hopes that La Perla Italia and La Perla Management will also be included in the judicial administration.
Adolfo Urso, Italy’s Ministry of Enterprises and Made in Italy, emphasized the importance of working together to secure the brand’s stability and continuity in the midst of these legal proceedings. Employee concerns about the fate of the company have somewhat subsided with the recognition of judicial administration.
Ugo Cherubini, representing the Filctem Cgil trade union, emphasized the need to swiftly restart manufacturing activities and find a viable industrial solution. The unions have been vocal about La Perla’s financial struggles and have actively sought intervention to safeguard jobs amidst uncertainties.
La Perla has faced challenges in its relaunch efforts in recent years, despite investments and expansions into new revenue streams like beauty and swimwear. Established in 1956, the brand has changed ownership multiple times, with its future now hanging in the balance as stakeholders navigate these legal and financial complexities.