March 29, 2019 / 5:53 PM / in 22 days

Italy's Roberto Cavalli to seek accord with creditors - sources

MILAN, March 29 (Reuters) - Italy’s troubled fashion house Roberto Cavalli will seek an accord with creditors to preserve day-by-day business as the company waits for a new investor, two sources said on Friday.

The settlement has to be submitted to a Court approval and to be validated by the majority of creditors.

The agreement however would not prevent the sale of the Tuscan brand by private equity firm Clessidra, which owns 90 percent of the company, one of the sources said.

Reporting by Silvia Ognibene and Claudia Cristoferi

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