Italian lingerie brand La Perla could be sold by June

Bids for Italian lingerie brand La Perla are expected to be opened in May, with the company then likely to be sold by June. Following the deadline for submitting bids, the approximately 20 interested parties are currently accessing the virtual data room continuing all information pertaining to La Perla, which is under administration.

According to Italian news agency ANSA, the suitors have roughly one month to analyse the company's situation and subsequently submit binding offers. The bids are expected to be opened in the presence of a notary public in May, at which point the winning bid will be selected.

The sale, encompassing La Perla Manufacturing, the Bologna-based production facility, along with a brand licensing agreement with an option to purchase, and an option to acquire the Italian portion of La Perla Global Management UK and some foreign subsidiaries (UAE and China), is expected to be finalised by the end of June.

La Perla workers prepare to travel to Rome to request social safety net coverage

Meanwhile, as reported yesterday by Bologna’s local newspaper Resto del Carlino, La Perla workers are preparing to travel to Rome to reiterate their request for social safety net coverage. On Friday, March 14, approximately 100 workers will hold a demonstration in front of the Ministry of Labour. Around 55 employees, between La Perla Global Management UK and La Perla Italia, are at risk of losing their benefits.

For the employees of the former company, governed by British law and holder of the brand, unemployment benefits expired on January 25, according to the newspaper.

For those employed by the latter company, which manages the retail stores, benefits expire on April 10. The workers fear they will be left without coverage in the weeks leading up to the company's sale.

Unemployment benefits for La Perla Manufacturing have been extended until November 25.