Struggling Fashion House Trussardi Nears Brand, Assets Sale.

Italian fashion house Trussardi is close to finalizing a deal that will result in a change of ownership and the sale of assets as part of a debt restructuring plan. The brand, along with some of its branches, is expected to be sold to Miroglio Group, a manufacturer and distributor of ready-to-wear products. The proceeds from the sale will be used to repay existing creditors. However, not all Trussardi stores will be included in the deal, and some will be closed. The lack of interest in relaunching the brand may be attributed to the bursting of the luxury bubble created during the pandemic. Trussardi is currently owned by QuattroR, an Italian turnaround fund. The company sells clothing and accessories for both men and women. The transaction will require approval from the Italian court overseeing Trussardi's restructuring process. One of the factors that led to Trussardi's restructuring was its exposure to Russia, as sales in the country were severely impacted by the invasion of Ukraine and subsequent sanctions. [Extracted from the article]