Last October 1st, the Italian clothing company Rifle was declared bankrupt by the Court of Florence. The court’s decision came after Rifle had asked for an ongoing arrangement last May, a procedure that allows the business to continue by agreeing on a plan to settle the company’s debts. Despite the negotiations between the unions and the Tuscany region to avoid bankruptcy, writes the Sole 24 Ore, “The expected recovery and debt restructuring plan did not take place, and bankruptcy has arrived”.
Rifle was founded in 1958 by the Fratini brothers, after one of the two brothers had been importing the fabric for years denim, the one to produce jeans, from the United States. Since its foundation, therefore, Rifle has specialized in denim clothing, while diversifying the production lines: the most successful period was in the 1980s, while in the 1990s and 2000s the company went through several crises.
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