By  on September 12, 2015

MILAN – Concept retailer 10 Corso Como may be facing financial troubles. According to media reports, the store created by Carla Sozzani allegedly owes 4.67 million euros, or $5.27 million at current exchange rate, to Italy’s tax office Equitalia.

While Sozzani’s lawyers contend the retailer has asked to repay this debt in installments, Equitalia deems the store is unable to do so and is requesting Milan’s courthouse to declare its bankruptcy. A first hearing in the trial is expected on Wednesday, according to the online version of magazine L’Espresso, which also states that 10 Corso Como had requested Italy’s tax commission to allow an additional extension to repay its debt. The commission has yet to decide on the issue.

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