Hogan Lovells advises Gruppo Grancasa on €25 million loan from illimity Bank S.p.A.

Milan, 2 December 2021 - Global law firm Hogan Lovells has advised Gruppo Grancasa, a retailer specialising in the sale of furniture and accessories for homes, on its 25 million euro agreement with illimity Bank S.p.A..

The loan will support the implementation of Gruppo Grancasa’s business plan which aims to reposition the brand in the contemporary mid-market segment of the market.

illimity's loan benefits from the preferred article 182-quinquies of the Italian Bankruptcy Law and forms part of a broader agreement with the main financial creditors. The main financial creditors also allowed an assessment to be carried out not only on the turnaround prospects and the solidity of the business plan, but also on the Group's real estate assets.

The Hogan Lovells team was led by Rome-based Business Restructuring and Insolvency partner Ernesto Apuzzo with support from senior associate Alessandra Dima and associate Giulia Melegari.

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