Heavily Indebted Retailer Coin Opening Up to New Investors [Yahoo! Finance]
ASSICURAZIONI GENERLI ADR (ARZGY)
NASDAQ:AMEX Investor Relations:
generali.com/investors
Company Research
Source: Yahoo! Finance
The Italian retailer said Friday that a Venice court approved its admission to a “negotiated composition” measure aimed at protecting the company as it restructures its debt, outlines a new business plan and eyes investors. More from WWD Chicago Collective Spreads Its Wings With Even More Brands & Floor Space for Spring Market Diving Into the Italian Heritage With Three Men's Brands Sanlorenzo Yachts Agrees to Buy Leonardo Ferragamo's Swan As per Italian law, the measure mediated by the Chamber of Commerce allows companies with healthy revenues and profits to efficiently negotiate a debt repayment plan with creditors. The company's current debt, mainly toward banks, stands just above 230 million euros and financial sources said that repayment is due by the end of the year. In 2023 Coin SpA logged 280 million euros in sales, with net profits amounting to 15 million euros. In the 12 months to Dec. 31, earnings before interest, taxes, depreciation and amortization totaled
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