Monday, March 1, 2010

Mariella Burani Shuts Down Operations

Debt Woes Take Toll on Italy's Burani

MILAN—Italian fashion firm Mariella Burani Fashion Group SpA said Friday its board had resigned and it would next month hold a shareholders' meeting to name liquidators with a view to shutting down operations at the company, which is struggling to stay afloat beneath €600 million ($813 million) in debt.