Struggling Italian fashion group Aeffe has asked to be excluded from the Star segment of the Euronext Milan stock market index by the end of the current fiscal year.

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Aeffe’s request “is dictated by the need to simplify and optimise company activities and available resources, allowing greater operational flexibility and enabling all functions to focus on what is necessary for a successful conclusion of the negotiated settlement procedure,” the group stated in a press release. Aeffe owns fashion labels Alberta Ferretti , Moschino , and Philosophy, and footwear brand Pollini , and has applied for the settlement procedure as a result of ongoing financial difficulties.

Aeffe went on to say it “will continue to ensure maximum commitment to all stakeholders, with the a

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