The Chiara Ferragni case: her Fenice Srl cancelled from innovative start-ups, 'lost the requirements'.

(Il Sole 24 Ore Radiocor) - In the run-up to Christmas, Fenice Srl, one of the key companies in the galaxy of the influencer Chiara Ferragni, was ex officio cancelled from the special section of innovative SMEs 'for failure to file the declaration of maintenance of possession of the requirements', as stated in a decision of the Milan Chamber of Commerce. Ferragni's company, it should be noted, remains active and registered in the ordinary section of the companies register, but no longer in the special list dedicated to innovative SMEs. The reasons? Within 30 days of the approval of the balance sheet, and in any case within seven months of the end of each financial year, the legal representative of these particular startups must certify each year that they continue to meet certain requirements laid down by law. Failure to file the declaration, as happened to Fenice Srl, triggers cancellation from the special section.

What does this cancellation entail? The answer, at least in theory, is provided by the Milan Chamber of Commerce itself, which, on its website, explains how innovative SMEs, which must meet certain requirements, have a series of advantages and facilities in return, including 'flexibility in company management', 'equity incentive plans', 'facilitations in loss compensation and access to bank credit' and 'tax incentives for investment'. But 'a fundamental condition to be able to benefit from these advantages is that the companies are registered in the special section' of the register.

It remains to be seen how, and if, all of this could possibly affect the recovery process started by Ferragni's company, which has recently turned to manager Claudio Calabi to relaunch its Fenice Srl - which still has not filed its 2023 balance sheet after the 'pandoro-gate' case.