From Yahoo Finance: 2025-05-22 12:36:00

Italian retailer Modes has been placed under judicial liquidation due to a failed business restructuring plan, following a May 2024 filing for “compositions with creditors” procedures. The court ruled in favor of liquidation, citing poor financial performance, governance issues, and irregularities in financial statements.

Estimates show Modes’ revenues in 2025 would be 10.8 million euros, far below the projected 17.81 million euros. Earnings stood at negative 5.3 million euros, worsening the financial deficit. President Aldo Carpinteri’s hopes for revival are dimmed, but he remains committed to safeguarding the Modes brand and potentially starting a new retail venture.

Despite the liquidation, Modes Switzerland remains operational, with the Saint Moritz boutique still open. At its peak, Modes achieved 150 million euros in yearly sales and operated 19 stores globally. Established in 1971, the company had industry veteran Simon Whitehouse as CEO before his departure last March.

Read more: Italian Retailer Modes Placed Under Judicial Liquidation