Image from a Miss Sixty campaign
25 Jul. 2013
Creditors approve saving Sixty
Sixty group's procedure of composition with creditors is close to an approval. During the 20 days assigned to approve or deny a solution for healing the company's situation (see our previous report here), 88% of creditors gave their OK to saving approximatly 50 employess and paying 15-16% of creditors.
The procedure for solving the company's difficult situation still has to pass through a series of delicate steps. If the situation is solved positively, two of the Luxembourg companies now controlling Sixty S.p.A - Sixty International and Sixty S.p.A, which were both acquired by the panasiatic fund Crescent Hyde Park, will buy the Energie and Miss Sixty brands immediatly and, by March 2014, the Refrigiwear and Murphy&Nye brands.
If all goes ahead, activities will start again with a new company that will absorb approximatly 50 people. The remaining 30-40 people will be employed by a satellite company, however, for the remaining 300 people, the future will still be uncertain.
Maria Cristina Pavarini
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