Press Room

On 1 October, the transfer of the La Perla Group’s assets to La Perla Atelier S.r.l., a company controlled by Mr. Peter Kern, was completed. Mr. Kern had previously been selected as the successful bidder in the unified, competitive sale procedure conducted by La Perla Manufacturing S.r.l. under extraordinary administration, in coordination with the other La Perla Group companies (La Perla Global Management (UK) Limited and its Italian Branch).

BonelliErede assisted the Special Commissioners of La Perla Manufacturing S.r.l. in extraordinary administration in all phases of the transaction: from the design and execution of the cross-border memorandum of understanding with the other Group companies, to the implementation of the unified competitive sale procedure covering all La Perla Group assets, and through to the execution of the preliminary agreement for the transfer of La Perla Manufacturing S.r.l.’s business, the definitive transfer agreement for the business, the licence of the La Perla trademarks and the loan-for-use agreement concerning the Group’s archives.

The memorandum – the first ever signed between Italy and the United Kingdom after Brexit – enabled the assets of the La Perla Group, held by various Italian and foreign companies, to be transferred and licensed to a single entity rather than sold piecemeal. The sale procedure was conducted by La Perla Manufacturing S.r.l. under extraordinary administration. The successful bidder was announced in June 2025 by Adolfo Urso, Italy’s Minister for Enterprises and Made in Italy: Peter Kern, a top-tier industrial investor already active in the Italian market, who, through his corporate vehicle Luxury Holding LLC, submitted the best offer for the production facility, the trademark and the entire workforce, together with an industrial plan designed to restore La Perla to a position of global leadership in its sector and to expand the workforce.

Today’s closing marks a significant achievement for Italy, as it secures the survival of a historic Made-in-Italy group and ensures the continued full employment of all employees.

The Special Commissioners of La Perla Manufacturing S.r.l. under extraordinary administration – attorneys Francesco Paolo Bello, Francesca Pace and Gianluca Giorgi – were assisted by BonelliErede, with a team comprising partners Alberto Saravalle, Marco Arato and Gianpaolo Ciervo, and associate Vittoria Sollazzo, all members of the firm’s Corporate Crisis & Debt Restructuring Focus Team. BonelliErede also advised the Special Commissioners on certain English-law matters with partner Richard Samuel. The Special Commissioners further received assistance from labour consultants Giorgia Giusti and Gabriele Martena; accounting and financial advisors Fabrizio Bianchimani, Stefania Barbalonga and Vincenzo Falivelli of CB Partners; and Professor Daniela Saitta as a specialised advisor in extraordinary administration.

The judicial liquidators of La Perla Global Management (UK) Limited – Italian Branch under judicial liquidation, Andrea Monari and Professor Luca Mandrioli, who supported each phase of the process from the outset, were assisted by Professor and attorney-at-law Massimo Fabiani.

The Joint Liquidators of La Perla Global Management (UK) Limited in UK liquidation, Andrew Watling and Duncan Beat of Quantuma Advisory Limited, were supported on Italian-law aspects by CBA Studio Legale e Tributario, with a team led by partner Antonio Martini and associate Alessandro Botti, and on English-law aspects by Shoosmiths LLP, with a team led by partner Lee Sennett and supported by principal associate Harry Rose. For coordination activities across the various proceedings – including negotiations relating to the memorandum of understanding – and as a member of the coordination committee, they were assisted by attorney-at-law Andrea Angelo Terraneo, Senior Case Administrator at Quantuma and Lecturer in Insolvency Law at the University of Milano-Bicocca. Terraneo was also appointed as Agent for the Joint Liquidators in dealings with Italian professionals, the Court of Bologna and the Ministry for Enterprises and Made in Italy, helping to bridge the differences between the applicable legal frameworks and to foster cooperation among all advisors.

Peter Kern was advised by Zoppini & Associati, represented by Professor Andrea Zoppini, attorney-at-law, and Giulio Angeloni, attorney-at-law, and by the accounting firm Studio Trombone Dottori Commercialisti Associati, represented by Domenico Trombone, Luca Neri, Matteo Maestroni and Alessandro Zoboli as financial advisors.