11 months ago

Valentino in Talks with Banks Following Debt Breach

Valentino in Talks with Banks Following Debt Breach
Valentino in Talks With Banks as Luxury Drop Prompts Debt Breach · livemint.com

Valentino, the fashion company, is having money troubles.

They borrowed a lot of money, and now they can't pay it back as easily because people aren't buying as many fancy clothes.

Because of this they had to talk to the banks.

The company's sales went down, and they didn't make as much profit.

Part of this is because people are worried about the economy.

The company has also made some changes to who runs the business.

They borrowed money last year and agreed to stay below a certain level of debt compared to how much money they make.

They didn't make enough money and are now trying to work things out with the banks.

Key facts

Company
Valentino SpA
Owner
Mayhoola for Investments & Kering SA
Debt Amount
€530 million ($619 million) financing
Debt Breach
Net debt-to-earnings ratio exceeded the threshold
Revenue 2024
€1.31 billion, down 2.8%
Ebitda 2024
€248 million, down 21%
Net Debt (Dec 31)
€1.08 billion
CEO
Riccardo Bellini

Sources

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