Malo seeks bankruptcy protection under 'concordato preventivo' procedure; seeks new investors
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Italian cashmere brand Malo is seeking bankruptcy protection under the "concordato preventivo procedure, Italian language daily Il Messaggero reported. The report cited a company statement noting that the filing was made on 18 August with the Florence Tribunal.
The item also noted that Malo has hired Labs Investments to find an investor for the brand.
Experts valued the company at EUR 40m to EUR 100m in 2014, according to previous reports.