Trussardi begins restructuring after reportedly falling into 50 million euro debt

Italian luxury house Trussardi is said to have turned to a safeguard procedure in order to tackle its growing debt following a series of layoffs and resignations.

The brand, which was bought in 2019 by asset management company QuattroR, is estimated to be in debt of over 50 million euros, according to market sources linked to FashionNetwork.

The media outlet said that consultancy firm 3X Capital was called in to help Trussardi upon the resignation of its board of directors and CEO Sébastien Suhl.

Additionally, employees are said to have been laid off and several boutiques are expected to close.

Through the restructuring, the company is aiming to rationalise and reorganise so that it recovers its profitability.

FashionNetwork also noted the artistic direction of the brand, led by GmbH’s Serhat Işik and Benjamin A. Huseby, who were appointed to the position in 2021, is still in place.

However, it could be that the creative process is called into review as part of the process. Notably, the house did not show on the runway for the AW23 season, and instead displayed a presentation.

Founded in 1911, Trussardi has been struggling for several years, with issues that were only heightened by the pandemic and recent macroeconomic situations, including logistical problems and increased competition.