Jeckerson received approval – with 82.91% favorable votes – on the proposal of a “concordato preventivo in continuità”. Jeckerson is also the controlling company of JRetail, Jeckerson US and JRetail Sarl.
The total debt (before implementation of the restructuring) is approximately Euro 90 million. The transaction, which is subject to final approval by the competent Court, contemplates new financial support from the private equity fund Stirling Square Capital Partners to preserve business continuity, payment in full of privileged creditors and equitisation of un-secured/under-secured creditors (through allocation of a new class of shares).
Jeckerson and Stirling Square Capital Partners were assisted by Gattai, Minoli, Agostinelli & Partners with a team formed by partners Riccardo Agostinelli, Sergio Fulco, Alessandro Dolce and senior associates Riccardo Sgrò and Matteo Mengoni and also by Professors Antonio Rossi and Renato Santini of Bologna. Equita Sim was financial advisor.
Studio Lombardi Segni e Associati, with a team lead by Giuseppe Lombardi and Professor Pierdanilo Beltrami assisted the banks.