The 10 Corso Como concept store threatening liquidation

By

Dominique Muret

Published
Sep 14, 2015

The temple of Milan fashion is risking liquidation. According to the Italian weekly newspaper l’Espresso, Equitalia, the Italian revenue agency, has filed a request with the Milan court for the company to be put into liquidation. The request is addressed to Dieci srl, the holding company of the famous Italian concept store founded by Carla Sozzani, due to unpaid taxes.

Equitalia is calling for 4.67 million euros in from 10 Corso Como, says L’Espresso. The company from Carla Sozzani saw its sales figure drop from 6.3 to 5.6 million euros between 2013 and 2014.

In parallel, its net losses also increased for the same period, from 637,000 to 709,000 euros, while Dieci srl's debt stood at 11 million euros on 31 January 2015, according to the publication.

Debt restructuring for the payment of these taxes should have been afforded the famous multi-brand store, but Equitalia says it would not have been respected. Lawyers for 10 Corso Como are protesting against "this baseless decision" they are referring to as a "misunderstanding".

The Milan court is to deliver its decision on the liquidation this Wednesday September 16th.