The losses of 10 million have set the Phoenix heritage to zero, and the income that is planned for 2024 would be considerably lower than the 2022, which fall from 14 million to around 2 million. One of the members is critical of the budget and could legally dispute it. In the meantime, there is a meeting to discuss a capital increase that would help the company to cover the losses and to support the activity in the next 12 crucial months for the possible repair.
Chiara Ferragni’s balance
On Monday, Chiara Ferragni (32.5%of the capital), Paolo Barletta (40%) and Pasquale Morgese (27.5%) will confronted with a decisive day for the future of Fenice, the makers’ company. It reports it Courier In an article by Mario Revini and Daniela Polizzi. There will be two meetings: an ordinary to approve the 2023 budget, late and an extraordinary to discuss an urgent recapitalization. The only director Claudio Calabi, appointed in November, presents the budget of 2023 and an updated patrimonial situation needed for the capital increase. If Morgese or other shareholders retire, it seems that the financial coverage would still be guaranteed.
Income under 2 million for the Balocco case
The 2023 budget shows a turnover of approximately 11-12 million, but 2024 saw a strong decrease, with a turnover just under 2 million because of the Balocco case. Calabi has proposed a cleaning budget, with drastic cutbacks on costs and staff, and the transfer of offices to the headquarters of Sisterhood. The guarantees for business continuity are confirmed by the auditor.
According to Morgese’s criticism, there would be no clear prospects for Fenice, whose only one is active in the Chiara Ferragni brand. Other sources in the vicinity of members, however, suggest that the company could explore markets in the Makeup, jewelry and leather goods sector, with a view to international markets. A new industrial plan has not yet been defined, but the immediate goal is to stabilize the company in the coming twelve months.
The two meetings will take place on Monday in an atmosphere of tension, with Morgian criticism of the accounting approach of Calabi. Although Ferragni and Barletta have the majority to approve the points on the agenda, the discussion could influence the relationships between Morgese, the other members and the only director, which may avoid a legal profession of the meeting decisions.
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