MILAN — La Perla’s financial troubles have reached a tipping point.
According to media reports, a Bologna, Italy, court declared the state of insolvency Thursday, with judge Michele Atzori naming a trifecta of court commissioners tasked with leading the Italian subsidiary La Perla Manufacturing Srl out of the quagmire. This marks the exit of the brand’s owner Tennor.
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As part of the procedure, after assessing the company’s financial condition, commissioners can rule in favor of liquidation or judicial administration, the latter geared at preserving jobs and business continuity.
This comes a few days after a judicial liquidation was commenced in the U.K. for La Perla Global Management UK, the British company that owns…
