Allison: restructuring process brought to successful conclusion

The company is now ready to adopt the new business plan and focus on optimizing and developing its licenses Following the approval by the Court of Padua, the restructuring of Allison S.p.A.'s debts concluded successfully. As part of a wider restructuring plan pursuant to Art. 182 bis, the negotiations involved Studio La Croce, the law firm that managed the procedure and legal advisers from Studio Lombardi Molinari.   The elimination of debts was made possible by a variety of combined actions, such as an injection of equity by shareholder Paladin Capital Partners, and the disposal of the facility in Volta Mantovana. The removal of the financial exposure will allow Allison to adopt the new business plan through 2016 and focus more on optimizing and developing its licenses as well as improving its own brands.   Following the 2012 renewal of its main licenses - Benetton, Missoni, Moschino, Iceberg and Vivienne Westwood – and the acquisition of new licenses, such as La Martina and Replay, the historic company based in Padua will be re-launched at Mido 2013 with two projects conceived entirely by the Allison team: "Hally & Son", an old style eyewear line also available in real horn, and "Opposit", an eccentric and provocative style.   A joint venture with a leading industrial group manufacturing luxury products was also finalized for the production of eyewear. Its first collection will make its debut at a dedicated stand during Mido 2013.   The restructuring operation will allow Allison to pursue the development of a more streamlined business plan oriented towards growth; for the first time after a difficult three year period, the management believes that the company will fully achieve its objective of returning to profitability during the first two years of the plan.