According to Italian press, the 10 Corso Como concept store founded in 1990 and owned by art dealer and fashion retailer Carla Sozzani, might be filed for Chapter 11 for not paying taxes.

The famous Milanese insignia founder commented that the piece of news is not correct for two main reasons. First Dieci Srl, the company that manages the distribution under a licensing agreement of the 10 Corso Como brand in Italy, is a different entity from the 10 Corso Como store, therefore distinct from 10 Corso Como. Secondly, they assert that they have paid taxes regularly.

Apparently, Dieci Srl owes a sum of €4.67 million to Equitalia, the company that collects taxes on behalf of the Italian state. Since facing economic difficulties Dieci asked for a first split of payments of their due taxes and later asked for another delay. Since Dieci Srl had not paid the due rates because they were waiting for the tribunal’s final decision as authorities neither decided to accept nor decline the second delayed payment request, Equitalia considered this missing payment as a reason to ask for their Chapter 11 filing. A decision on the future of the company could be announced by the tribunal on 16 September 2015.