The Pietro Filipi trademark is for sale, offered by insolvency administrator Lukáš Vlašaný in the form of an open tender. Candidates must submit an offer and pay the deposit by 12:00 on September 17, the one who will be willing to pay the most for it can get it. However, the insolvency administrator has the option to reject one or all bids. Zoot has already applied for the purchase. This follows from the documents published in the insolvency register.
The E15 server has previously stated that the Slovak businessman and former partner of the Penta Group, Jozef Špirko, is also interested through his clothing company Ozeta and the founder of the Pietro Filipi brand, Petr Hendrych.
The deposit to ensure interest is CZK 300,000. The insolvency administrator assumes in the sale schedule that by 20 September, calls will be sent to interested parties to specify and adjust the offers. Candidates must then submit increased bids by 12:00 by 24 September, and bids should be evaluated on the same day at 13:00. The approval of the sale is scheduled for September 27, and on September 30, a trademark transfer agreement should be concluded with the selected bidder.
Former Pietro Filipi operations director Lukáš Uhl and the founder of the Tamsin.cz fashion e-shop, Lenka O’Neill, want to save the bankrupt clothing brand. They concluded an agreement with the insolvency administrator on the sale of inventories which, according to Uhl, have a cost value of more than CZK 100 million. The sale is scheduled for one year. The purpose of the sale is to cover at least part of the creditors’ claims. At the same time, Uhl and O’Neill will be looking for a partner with whom it would be possible to revitalize the brand and its new future. Entrepreneurs informed about it last week.
Insolvency proceedings with Pietro Filipi and Pietro Filipi stores, which operated the Czech brand’s retail stores, were opened in February. The reason was a coronavirus pandemic and forced closures. Due to lack of funds, the owner of the companies, Michal Mička, was not able to continue looking for investors and possible reorganization of the companies. The Municipal Court in Prague decided in May to declare bankruptcy of both companies. The company Pietro Filipi owed creditors at that time about CZK 513 million, in the case of Pietro Filipi stores the amount of receivables was about CZK 182 million.
The Pietro Filipi clothing brand has been operating on the Czech market since 1993, but the company has struggled with debt. Mička believed that he could raise the established brand and in 2017 he and his investment company C2H bought an eighty percent stake in it, in 2019 he acquired the remaining 20 percent. Mička also decided to revive the Kara brand, but she also went into insolvency this year. Reorganization is now allowed. It was decided to save it by its former owner Zdeněk Rinth and the largest creditor, the company Natland Pohledávková V. from the Natland investment group.
Source: CTK
