Italian fashion house Trussardi has reportedly embarked on a restructuring. It has also filed for protection, FashionNetwork reports, citing sources close to the company. The process allows for a restructuring to pay off debt while the company remains operational.
The brand is reportedly owing €50 million. Advisory firm 3X Capital currently manages the brand, while board members and CEO Sébastien Suhl are said to have left the company. In addition, several shops are to be closed and other employees laid off. According to the sources, creative directors Serhat Isik and Benjamin Huseby, who are also the founders of Berlin-based label GmbH, remain active at the brand.
Trussardi was founded in 1911 by Dante Trussardi. Back then, the company made leather gloves. In the 1970s, grandson Nicola Trussardi took over the brand and the company was transformed into a lifestyle brand that also introduced clothing.
This translated and edited post previously appeared on FashionUnited.nl.