ITTIERRE GROUP escapes bankruptcy by attracting EUR 60 million

State appointed administrators in charge with restructuring ITTIERRE GROUP have announced they raised EUR 60 million from a consortium of Italian banks made up of Unicredit, San Paolo and Banca Popolare di Milano. ITTIERRE Group, which filed for bankruptcy earlier this year, owns the houses of Gianfranco Ferre and Malo and produces under exclusive licensing the diffusion lines Just Cavalli, C’N'C’ Costume National, Galliano and Ermanno Scervino.