Barcelona – Spanish bridal fashion company Pronovias is facing a potential change of ownership, as binding offers have been submitted by Desigual and US-based investor Enduring Ventures, according to multiple media reports.
As reported by FashionNetwork.com, the company has received bids for the acquisition of a key business unit. At the same time, the Spanish economic news outlet Modaes states that the process specifically concerns Pronovias’ production division, which is being marketed as part of a fast-tracked sale.
According to the sources, the process is being conducted under a court-supervised pre-pack procedure in Barcelona, aimed at enabling a swift transaction amid financial pressure. The submitted offers are currently under review, with a decision expected in the coming days.
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Oanh Larsen / Bridal-Times.com