Mariella Burani Fashion Group Loses Administrator

Giampiero Martini has suspended himself from his role in the fashion firm's government-backed bankruptcy protection procedure.

HIS OWN TROUBLES: Lawyer Giampiero Martini suspended himself on Thursday from his role as administrator in the government-backed bankruptcy protection procedure of Mariella Burani Fashion Group, following house arrests that were not in connection with this post. According to a legal source, Martini was victim of an extortion and illegally used funds that he was managing in another case of bankruptcy.

The other two state-appointed MBFG commissioners, Francesco Ruscigno and Rossella Strippoli, will continue in their efforts to rescue the group as they expect binding offers for it to be filed by April 2. According to sources, Albisetti and Ittierre owner Antonio Bianchi has been kicking the tires of the group’s manufacturing facilities in Italy’s Cavriago.

MBFG produces the Mariella Burani brand and collections for Ungaro and Matthew Williamson under licensing agreements. The group was declared bankrupt two years ago.