By  on November 11, 2010

MILAN — After less than two years, Gianfranco Ferré SpA and Ittierre SpA are out of government-backed bankruptcy protection and have secured new owners.

With the approval on Wednesday from Italy’s recently nominated minister of economic development, Paolo Romani, the three state-appointed commissioners of IT Holding SpA have accepted offers by Prodos Capital Management LLC to acquire the Ferré fashion house and by Albisetti SpA to take control of clothing manufacturer Ittierre SpA. This confirms reports in WWD last September.

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