It ended positively at Ministry of Economic Development (Mise) the story of the Corneliani crisis resolved with the appeal, and it is the first time that this has happened, Invitalia fund , who invested 10 million euros in the newco, a figure that is added to Investcorp’s 7 million, the majority shareholder of the historic Mantua-based company specializing in men’s clothing.
A little more than a month after the first table (the current minister Giancarlo Giorgetti has “inherited” the Corneliani crisis from the previous government) all the interested parties (company, investors, trade unions) have signed the agreement that will allow the newco to survive and develop the brand and the company (above, a recent total look). “Sorry for the redundancies (about 150 people, about half of which are retirements until 2025) for which all the tools to accompany them on the way out have been identified “, reads a press release from the ministry (in the photo above, the connection with all the parts of Minister Giorgetti).
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The breaking latest news of the previous table (23 March 2020): Corneliani avoids collapse, the Invitalia newco is launched with private investments
Long-term commitment
The minister has ensured maximum availability, presence and commitment also in the future. «It is all based on an act of faith that we have all made by betting on the future of a company, an Italian brand that can win the challenge of the market. I hope that at this point there are no further obstacles to resolving the crisis – said Giorgetti -. We have experimented with a new tool which provides for the necessary intervention of the State in some crisis situations for those companies that have a future but which are facing crises linked to difficult times like the one we are experiencing. It is a model that we hope to be able to replicate in all those crisis situations where there is a private investor who accepts the State shareholder as a minority shareholder “. The minister then specified that” the ministry will still be present and will monitor the trend of the corporate affair from the moment he became a shareholder ».
The statements of the trade unions
Unions are also cautiously satisfied, for the «confirmation of the centrality of the Mantua production site and for the loss of personnel on a voluntary basis». The national and territorial secretariats of Mantua of Filctem Cgil, Femca Cils, Uiltec Uil and the corporate RSU have confirmed other central points of the dispute since its inception: “The agreement provides that the Mantua site remains the heart of the production quality of the workers and of the brand as a true added value of production”.