Chiara Ferragni and Fabio Maria Damato: A Step Away from Divorce Amid Financial Turmoil

Chiara Ferragni and Fabio Maria Damato: A Step Away from Divorce Amid Financial Turmoil
4 Minutes of Reading
Monday 29 April 2024, 18:19
Chiara Ferragni and Fabio Maria Damato, divorce is a step away. After the events of the last few months, the partnership between the influencer and the historical manager has indeed loosened, to the point of leading the 36-year-old's former right-hand man to resign, also asking for a maxi severance of four million euros. Ferragni, hole in the accounts: risk of books in court. To avoid bankruptcy, the influencer needs new capital. Since the 'pandoro case' erupted, Chiara Ferragni and Fabio Maria Damato have not been seen together, or at least according to Gabriele Parpiglia, who spoke on RTL 102.5. What is certain, however, is that the atmosphere between the two has been very tense, so much so that it led the manager to ask for a severance payment. This request comes along with a divorce that has been in the air for a while. Perhaps even before that of Chiara Ferragni with her husband Fedez. After years of working side by side, the influencer might indeed have said goodbye forever to the manager, considered by many the real responsible for the pandoro gate. And while Damato has been missing from social media for months - the last post dates back to December 10, 2023, before all the scandal - Chiara Ferragni remains silent on their relationship, omitting any reference to him and the situation. However, Fedez, who during an interview on 'Belve' lashed out - without naming names - at the former right-hand of his now ex-wife. Talking about the Balocco case, the singer indeed admitted his partner's faults, adding, however, that the whole story could have been managed better: 'I am sure there was no bad faith, I'm sorry because she decided to take all the responsibilities when she could and should have explained that the responsibilities, if any, are not only hers. About her managers? Just one.' The hole in the accounts: The severance requested by Fabio Maria Damato comes at a very difficult time for Chiara Ferragni and her companies. According to what was reported by the Messaggero, from the drafting of the 2023 budget of Fenice srl - the most important company of the digital entrepreneur - it would emerge that the operating loss could be around 4 million, questioning the company's continuity: it, according to the civil code, is the assumption on which, in drawing up the budget, the company is normally considered able to continue its activity in a foreseeable future (3-5 years). Hence the hypotheses of a recapitalization of 5-6 million. If the current shareholders should not be able to disburse them, they could be forced to open the capital to new partners. The consultants believe that the influencer from Cremona could ask some old data entrepreneur friend. Like Francesco Trapani, former CEO of Bulgari then in Clessidra, who established the family office Vam Investment, or Marco Bizzarri, who after leaving Gucci about a year ago, launched Nessifashion, an investment company for new professional adventures. The influx of fresh capital would indeed be needed to fill the cash hole for the continuation of the activity while from the point of view of the assets the company does not have big problems. Fenice would go into the red due to extraordinary costs, fines and sanctions for a total of about 1.5 million. The denial of the company: These are data, however, denied by Fenice srl itself, which intervened with a note to clarify some 'erroneous and misleading' information circulated in the last hours, specifying that 'such reconstructions are devoid of any foundation'. In particular, it specifies that 'it has not detected until mid-December 2023 any contraction of its turnover, with the consequence that the 2023 financial statements are only partially affected by the possible decrease in sales'. Regarding the turnover for the fiscal year 2024, 'Fenice specifies that it operates in several countries whose performances have only been partially impacted by the events of December '23'. Indeed, 'today, at the beginning of the second four-month period of 2024, the company is working to achieve the best possible results by the end of the current year, in the same spirit as always. Despite what happened, the business model has shown resilience and solidity, and Fenice's management is operating for its further expansion, so much so that some new important contracts, and new strengthening policies in Italy but especially abroad are currently being analyzed by the board of Fenice'. Finally, 'despite the various requests from investors and new partners interested in proposing investments and partnerships with Fenice, it is clarified that the company has not currently started any discussion with any potential new investor. Each of these proposals, once formalized, will be evaluated and managed in respect of the company's expansion policies and in the interest of its shareholders.'
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