Perini Navi, the Italy-based superyacht builder owned by the Tabacchi family, has had its debt structuring plan rejected by an Italian court.
According to published reports, including the newspaper Milano Finanza, a court in Lucca not only denied the restructuring, but also won’t allow Perini Navi additional time to determine ways to remain operational.
The option now is to proceed with a bankruptcy auction, which would take place in June. According to reports, the Ferretti Group and Sanlorenzo are potential candidacies for an acquisition.
Last year, it was reported that Sanlorenzo was poised to take a 70 percent controlling stake in Perini Navi after a debt restructuring.