MILAN — Byblos Srl, the company controlling the eponymous brand and operating the Manuel Facchini label, filed a restructuring plan with the Court of Milan, WWD has learned.
The procedure submitted in mid-October would allow the company to continue to operate while holding discussions with creditors under the so-called process of “composition with creditors.”
According to paperwork reviewed by WWD, the deadline for Byblos Srl to submit a final restructuring plan to the Court of Milan is Dec. 16.
The company had no comment on Thursday and financial details were not available.
Manuel Facchini established Byblos Srl in April 2018 after exiting from his family-owned company, Swinger International, which is helmed by his brother Mathias Facchini and operates the Genny label. Swinger bought the Byblos and Genny labels from Prada Group in 2002 and 2011, respectively.
The Byblos brand, first founded in 1973 by the Girombelli family, as well as the Manuel Facchini label have been designed by Manuel Facchini, who also holds the role of sole director of Byblos Srl.
After skipping the catwalk in February 2018, Byblos made its comeback at Milan Fashion Week for the following two seasons. The brand didn’t show a collection for spring 2020 in September, while Manuel Facchini’s latest collection was presented for the spring 2019 season.
When Byblos Srl was established, the company said it planned to boost the business of the Byblos and Manuel Facchini labels, positioned in the advanced contemporary and luxury segments, respectively, while also debuting a new brand, the By Byblos line, with the spring 2019 season.
A graduate of the prestigious London’s Central Saint Martins, Facchini’s signature style includes a mix of gothic and rock ‘n’ roll influences with a creative approach imbued with art and architecture references.