Stefanel in free fall in Piazza Affari, after the company asked to be admitted to the composition with creditors procedure. The shares, initially suspended by Borsa Italiana pending the press release, entered trading losing 20,8%, at 0,1378 euros, before entering the volatility auction.
Today the Venetian company announced that the board of directors has evaluated and resolved to submit an application for admission to the composition with creditors "blank" or "with reserve", a procedure in which the company reserves the right to present an appeal for approval of a debt restructuring agreement.
This resolution is part of the context of the initiatives taken by Stefanel aimed at restructuring the debt and strengthening its capital. Stefanel also informed that in the name and on behalf of Finpiave, which holds 20,329% of the share capital, that the latter too, today, resolved to submit an application for admission to the arrangement with creditors reserving the right to submit an application for the approval of a debt restructuring agreement.
