Valentino in Talks with Banks Following Debt Breach

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.