Lapo Elkann, his Italia Independent Group in liquidation

Lapo Elkann lowers the claire. The shareholders' meeting of Italia Independent Group, founded in July 2004 by Lapo Elkann, resolved to dissolve and liquidate the company. Following this decision, the shareholders' meeting of the subsidiary Italia Independent was held, which approved the same decision.

Marco Cordeddu, the company's current CEO and sole director of Italia Independent, has been appointed liquidator of both companies'. The decisions on liquidation were taken, says a note, as the board of directors had not received any binding offers, duly guaranteed, for the capitalisation of the company, as had been resolved by the board of directors meeting held on 15 December. Lastly, the shareholders' meeting resolved to change the company name from Italia Independent Group to IIG in fulfilment of the agreements reached as part of the sale of the Italia Independent brand in September 2023, as well as to transfer the registered office to the municipality of Valperga. The liquidation process represents the natural conclusion of the company's reorganisation process, which was made possible by the injection of personal resources by shareholder Lapo Elkann who, despite having played a predominantly creative role since the company's incorporation, enabled the company to meet its obligations.

In the first half of 2023, in fact, the Group's companies had successfully completed debt restructuring procedures with the financial contribution of the reference shareholder, Lapo Elkann, who, after having paid over 25 million euro into the group's coffers, had added personal resources of over 12.8 million euro to allow the operation to succeed. On 12 September, Italia Independent had signed a contract with M Group, the company that controls Alessandro Lanaro's Modo Group, for the sale of the 'Italia Independent' brand, but although the company's net worth was positive, following the sale of the brand, the group's companies no longer had any operational activity, so the board of directors decided to submit to the shareholders the decision to dissolve them and proceed with liquidation.