MILAN — As if any further reminder were needed of the financial crisis’ growing toll on the industry, Milan Fashion Week kicked into full swing with news that IT Holding SpA had filed for the Italian equivalent of Chapter 11.
The owner of the Gianfranco Ferré, Malo and Extè labels followed its production and licensing unit Ittierre SpA into administration on Thursday after last week filing for bankruptcy protection under the Italian equivalent of Chapter 11. Italy’s Minister of Economic Development Claudio Scajola approved the request, widening the brief of the three administrators he appointed Feb. 12 to restructure Ittierre.
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