By  on February 17, 2010

MILAN — Athena Consorzio said it plans to submit an offer to buy IT Holding SpA, owner of the Gianfranco Ferré, Malo and Exté labels and manufacturing arm Ittierre SpA.

IT Holding has been in government-backed bankruptcy protection since February 2009. The Athena consortium, a pool of small and medium-sized companies that operate in the fashion and textile industries, comprises several of IT Holding’s suppliers, which are owed about 200 million euros, or $272.5 million at current exchange.

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