An Italian court is seeking to halt the sale of luxury lingerie firm La Perla after a UK judge ordered the liquidation of its holding company to recoup unpaid tax debts.
Local unions claim that the court ordered the confiscation of all the assets, including the valued brand, of the London-based company La Perla Global Management Ltd.
La Perla Global Management was closed down by a London High Court judge in November after the company was confronted with £2.8 million in overdue taxes and a petition from the tax authorities.
Tennor Holding BV, the investment entity of German businessman Lars Windhorst, is the owner of La Perla. Concerns about holdings of thinly traded debt issued by entities connected to Tennor caused investment vehicle H2O AM LLP to lose billions of euros in redemptions. The storm revolved around the controversial billionaire. He has since been involved in several other conflicts, several of which have resulted in legal action being taken against him.
Despite having a global retail network, La Perla produces the majority of its high-end goods in Italy. According to Stefania Pisani, a union official, the unions have asked that the company be placed under amministrazione straordinaria, a sort of insolvency accessible for large corporations regulated by the Italian Government, which permits businesses to remain afloat during the process. According to her, there will be an administrative opening hearing on Friday.
The request to take the assets was made by the unions after the UK liquidator told the Italian unit it was intent on selling “the brand to maximise return for creditors,” according to a statement.
The upmarket lingerie firm sells bras, as well as other items including nightwear, pyjamas and knickers, according to its website.
