03-07-2025
Banks Are Offloading Some of Luxury Supplier Altofare's Debt
Banks are cutting their exposure to luxury supplier Altofare Group, after a slump in the sector pushed the company to kick off talks with creditors.
Illimity SGR SpA has bought a chunk of the €145 million ($171 million) of loans, while DeA Capital SpA is in talks to purchase a larger portion, said people familiar with the matter who spoke on condition of anonymity. Some banks are selling their whole exposure while others are holding on to their positions.
