Italy: Clothing Italian chain OVS in difficulty.

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16 January 2019 à 11h49

Updated on 10 May 2019 à 16h26

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1 minute

Publication: 16 January 2019 à 11h49, Updated on 10 May 2019 à 16h26

Reading time: 1 minute

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Publication

16 January 2019 à 11h49

Updated on 10 May 2019 à 16h26

Reading time

1 minute

Publication: 16 January 2019 à 11h49, Updated on 10 May 2019 à 16h26

Reading time: 1 minute

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An exceptionally mild autumn in Europe hit low-cost clothing group OVS (turnover of €1.4 billion in 2016), issuing a profit warning on 5th December. With 1,473 stores in 2016, OVS is the largest clothing retailer in Italy with 7.4% market share. The firm was founded in 1972 as “Organizzazione Vendite Speciali”, a division of the Italian department stores Coin. The company is negotiating with financers to gain more flexibility on debt repayments. At the end of October, net debt reached €440 mill

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