Content area
Full Text
Buyers Approved for Ferr, Ittierre
MILAN
After less than two years, Gianfranco Ferr SpA and Ittierre SpA are out of government-backed bankruptcy protection and have secured new owners.
With the approval on Wednesday from Italy's recently nominated minister of economic development, Paolo Romani, the three state-appointed commissioners of IT Holding SpA have accepted offers by Prodos Capital Management LLC to acquire the Ferr fashion house and by Albisetti SpA to take control of clothing manufacturer Ittierre SpA. This confirms reports in WWD last September.
Douglas Song, chairman of merchant banking firm Prodos, took in the label's show for the first time in September. Prodos has joined forces in the deal with Salmar Shipping...