By  on April 4, 2019

MILAN — Roberto Cavalli’s restructuring plan with creditors is only the first step in a number of measures the Florence-based company is setting in motion to overcome its financial troubles. And these measures involve some additional cost cuts, according to the papers filed to the Court of Milan this week.

In addition to ending the relationship with 12 collaborators and consultants in marketing and style, saving 700,000 euros, and choosing internally a successor to creative director Paul Surridge, who exited the brand last month, the company plans to close a number of nonstrategic or nonperforming stores, saving 500,000 euros annually; to reduce investments in marketing or new openings, including the interruption of marketing contributions for 20 million euros to foreign Cavalli companies, such as Art Fashion Corp. in the U.S. which is filing for Chapter 7; Roberto Cavalli Asia Pacific Ltd.; Roberto Cavalli (Beijing) Trade and Commerce Co. Ltd.; Roberto Cavalli Macau Ltd. and Roberto Cavalli Sloane Street Ltd. and to talk to unions to start the procedure for a cassa integrazione for employees, similar to a wage-support measure, by the end of May 2019.

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