MILAN — Italian retailer Modes has been placed under judicial liquidation after failing to carry forward with its business restructuring plan.
As reported, the company had filed for a “compositions with creditors” procedures with a Milan court in May 2024 against slowing sales and a deteriorated business environment.
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In the final verdict seen by WWD, the court deemed Modes no longer eligible for the court-mediated continuity procedure and ruled in favor of a judicial liquidation, originally filed by creditor FGF Industry — the Italian outerwear player parent to Blauer and Ten C — and later supported by Tod’s, in addition to the court.
In its ruling the court highlighted Modes’ worsened…
