Fenice, the participatory company and until 2023 led by Chiara Ferragni, closes the year with one loss of about 6 million euros. To these is added a cumulative red that reaches 10 million to 30 November last. A financial situation that prompted the company to convene an extraordinary shareholders’ meeting at the beginning of the week.
On the table there is a capital increase to try the rescue. The first partner Paolo Barletta will participate, through the Holding Alchimia, and Pasquale Morgese, with whom the relationships would have been tense for some time.
Fenice at a loss: the economic situation
Fenice, the company that manages Chiara Ferragni’s brands, has recorded a negative economic result for 6 million euros in only 2023.
There have been different to weigh on the accounts provisionsprepared by the current single administrator Claudio Calabi, appointed last November with the task of managing the renovation of the company.
The provisions concern potential legal disputes and the loss of value of the managed brands. The financial statements to 30 November 2024 indicates a cumulative red of 10 million eurosand the revenues, already falling, have undergone further contraction in the early months of 2024.
Towards the capital increase
The ordinary and extraordinary assembly of the Fenice shareholders is scheduled for Monday 10 March. The main agenda of the day concerns a capital increase of several million euros, necessary to put the company safe.
The participation of Pasquale Morgese An unknown remains: in the past he had experienced critical positions and may not vote or even challenge the budget.
In the meantime, the majority partner Paolo Barlettathrough Alchemyshould support the operation. However, the agreement between the shareholders is far from obvious.
The weight of the pandorogate
The Pandoro scandal, which led to the recent agreement between Chiara Ferragni and Codacons, deeply marked the reputation and commercial activities of the company. At the end of 2023, Fenice was sanctioned And he saw a drastic reduction in sales and revenues deriving from commercial partnerships.
For this reason, the short -term objective seems to be reduced Fenice, bringing it back to a more contained scale and focused on selected projects.
The restoration plan led by Claudio Calabi aims at reconstruction of the corporate value, but analysts estimate that the crisis triggered by the pandorogyan could leave aftermath difficult to recover.
