The shareholders’ meeting of Italia Independent Group, founded in July 2004 by Lapo Elkann, approved the dissolution and liquidation of the company. Following this decision, the shareholders’ meeting of the subsidiary Italia Independent was held which approved the same decision. Marco Cordeddu, current CEO of the company and sole director of Italia Independent, has been appointed liquidator of both companies in the Group. The decisions relating to the liquidation were taken, we read in a note, as the board of directors had not received binding offers, duly guaranteed, for the capitalization of the company, as was decided by the board of directors meeting last 15 December.
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The shareholders’ meeting finally resolved to change the company name from Italia Independent Group to IIG in compliance with the agreements reached as part of the sale of the Italia Independent brand which took place in September 2023, as well as the transfer of the registered office to the Municipality of Valperga. The liquidation process represents the natural conclusion of the company’s recovery process which was possible following the injection of personal resources by shareholder Lapo Elkann who, despite having had predominantly creative roles since the company was founded, allowed the company to be able to meet its obligations.
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In fact, in the first half of 2023, the Group companies had successfully completed the debt recovery procedures with the financial contribution of the reference shareholder, Lapo Elkann, who, after having supported paid into the group’s coffers over 25 million euros had added personal resources of over 12.8 million euros to enable the success of the operation. Last September 12, Italia Independent had stipulated the contract for the sale of the ‘Italia Independent’ brand with M Group, the company that controls Alessandro Lanaro’s Modo Group, but, although the company’s net worth was positive, following the sale of the brand , the Group companies no longer had any operational activity therefore the board of directors decided to submit to the shareholders the decision to dissolve them and proceed with liquidation.
2024-01-27 15:18:00
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