[ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( ISP.MI ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst Davide Vimercati said in a note. He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. 
Share:  [ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( <span class="company">ISP.MI</span> ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. <span class="sent"> "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst <span class="analyst">Davide Vimercati</span> said in a note. </span> He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. ...[ID:nLR219302] Shares in the company, which has net debt of more than 600 million euros ($856.6 million) and has just secured a delay in a debt repayment, fell 9.62 percent to 0.385 euro. Its creditor banks include Intesa Sanapolo ( <span class="company">ISP.MI</span> ) and UniCredit ( CRDI.MI ). It has a market cap of 114 million euros. <span class="sent"> "With private equity funds out of the game, and with the company facing liquidity issues..the clock is ticking rapidly," UniCredit analyst <span class="analyst">Davide Vimercati</span> said in a note. </span> He said Safilo could buy time by selling retail activities, that could be worth around 150 million euros. Tweet this 

Perna, through an outside spokesman, declined to comment. Malo Cashmere IT Holding, which also owns the Malo cashmere brand and Plus IT accessories unit, missed a loan payment in October and an extension three months later. Standard & Poor's cut its long-term corporate debt rating to "selective default" in December. On Feb. 9, Moody's Investors Service lowered its rating on the bonds to C, its lowest level, and downgraded the company's probability of default to D, signifying default on all obligations. "If Ittierre loses the licenses, the value of the company will drop dramatically," said Davide Vimercati , an analyst at UniCredit Markets & Investment Banking in Milan.  
Share:  Perna, through an outside spokesman, declined to comment. Malo Cashmere <span class="company">IT Holding</span>, which also owns the Malo cashmere brand and Plus IT accessories unit, missed a loan payment in October and an extension three months later. Standard & Poor's cut its long-term corporate debt rating to "selective default" in December. On Feb. 9, Moody's Investors Service lowered its rating on the bonds to C, its lowest level, and downgraded the company's probability of default to D, signifying default on all obligations. <span class="sent"> "If Ittierre loses the licenses, the value of the company will drop dramatically," said <span class="analyst">Davide Vimercati</span> , an analyst at UniCredit Markets & Investment Banking in Milan. </span>...<span class="sent">"If <span class="company">It</span>tierre loses the licenses, the value of the company will drop dramatically," said <span class="analyst">Davide Vimercati</span> , an analyst at UniCredit Markets & Investment Banking in Milan. </span> "<span class="company">It</span> would really surprise me if designers weren't looking for alternatives to <span class="company">It</span>tierre, he said. To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net ; Chris Staiti at cstaiti@bloomberg.net . Tweet this 

"The board ascertained the absence of the conditions necessary to continue its operations in a regular course of business," IT Holding said in the statement, citing a lack of financial resources and the unwillingness of its licensors to alter their agreements. "Given that in the case of the application of the bankruptcy procedure to one of the group's subsidiaries, the bond becomes immediately redeemable, we expect the parent company IT Holding to eventually file for extraordinary administration too," UniCredit Markets & Investment Banking analyst Davide Vimercati said in a note today.  
Share:  "The board ascertained the absence of the conditions necessary to continue its operations in a regular course of business," <span class="company">IT</span> Holding said in the statement, citing a lack of financial resources and the unwillingness of its licensors to alter their agreements. <span class="sent"> "Given that in the case of the application of the bankruptcy procedure to one of the group's subsidiaries, the bond becomes immediately redeemable, we expect the parent company <span class="company">IT</span> Holding to eventually file for extraordinary administration too," UniCredit Markets & Investment Banking analyst <span class="analyst">Davide Vimercati</span> said in a note today. </span>...<span class="sent">"Given that in the case of the application of the bankruptcy procedure to one of the group's subsidiaries, the bond becomes immediately redeemable, we expect the parent company <span class="company">IT</span> Holding to eventually file for extraordinary administration too," UniCredit Markets & Investment Banking analyst <span class="analyst">Davide Vimercati</span> said in a note today. </span> Stake Sale <span class="company">IT</span> Holding shares rose last week after the company said it was considering selling a stake to a foreign fund to stay in business. Tweet this