Fingiaco with Antico Forno a Legna in composition with creditors on a going concern basis

Antico Forno a Legna has filed its final composition-with-creditors plan with the Court of Pavia.

According to a press release, in September 2019, the Italpizza group, through the newco Italforno, had entered into a lease agreement for the business unit of the factory, committing to invest, should the bid be successful, approximately €5 million.

The financial advisor for the transaction is Fingiaco, which supported Antico Forno a Legna alongside partner Leopoldo Varasi (pictured) and manager Marco Checco.

The company employs 65 staff in Mortara (Pavia) and boasts a turnover of approximately €10.5 million in the frozen pizza production sector,

The restructuring and admission to the composition with creditors process was coordinated for Antico Forno a Legna by Raffaele Di Capua, who was appointed sole director by the shareholders in December 2018, with a mandate to carry out a corporate restructuring.