Hong Kong-based TISG-Asia Investment Holding Limited has submitted a non-binding expression of interest to acquire The Italian Sea Group (TISG) or its business as a going concern, backed by TGG Group.

This proposal was filed with the Court of Florence and Judicial Commissioners under Italy's business crisis and insolvency code. TISG, based in Marina di Carrara reportedly faces €270m in overdue debt amid court-supervised restructuring, worsened by the fallout from the 2024 Bayesian sinking.

The bidder promises capital injection, continued operations, completion of yachts under construction, production and brands to remain in Italy, as well as employment protection. The proposal remains subject to due diligence, any competitive bidding process launched by the Court of Florence and the wider proceedings overseen by the Court and Judicial Commissioners.

Read more in Marine Industry News

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Nautitech Catamarans entered redressement judiciaire — French court-supervised restructuring, in August 2026, following a ruling by the Tribunal de Commerce de La Rochelle. The procedure is not liquidation: according to Katamarans, the yard continues to build and deliver yachts while a six-month observation period begins. While debt was reduced and equity improved, cash dwindled to €3.02m as customer deposits shrank.

There has been a sharp decline in turnover, from €30.3m in FY2023 to €18.8m in FY2025, alongside falling operating performance and cash reserves. It attributes the difficulty principally to lower sales volumes, the cost of maintaining the yard’s fixed base, reduced customer-funded working capital as well as the owners Bavaria/private equity firm CMP refusing to recapitalise, triggering the procedure to facilitate a sale. 

Existing contracts continue during the observation period, though the position of warranties and customer stage payments has not been publicly stated. Nautitech’s future may depend on a sale or a continuation plan with new capital.

Full story here

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British company Welink Energy, owner of Solara4, Portugal’s largest solar power plant, has entered insolvency proceedings. The 219 MW facility in Alcoutim, Algarve, has operated since 2021 but has faced persistent operational and market challenges. Electricity production has fallen below forecasts, while rapid growth in Iberian solar capacity has pushed wholesale electricity prices down, sometimes to zero or negative levels, resulting in lower-than-expected revenues. 

Operations have also been affected by difficulties with contractor China Triumph International Engineering, fires and other technical problems. Welink had proposed a €400 million expansion combining additional solar capacity, wind power and battery storage, but Portugal’s environmental assessment committee issued an unfavourable opinion. A revised plan, reducing the number of wind turbines, subsequently entered public consultation and awaits a final decision. 

Within the insolvency proceedings, the priority is now to attract new investors to acquire the Solara4 asset.

Read more at EuroNews

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Frasers Group plc has acquired luxury retailer Harvey Nichols from administrators FTI Consulting LLP. The deal includes over 800 premium brands, 1,000+ employees, online operations, existing inventory, and six UK stores (Knightsbridge flagship, Manchester, Birmingham, Bristol, Leeds, and Edinburgh), alongside international franchise agreements and select Dublin assets. The OXO restaurant was excluded and sold separately.

Following sustained trading and operational challenges, Harvey Nichols will undergo significant restructuring. Frasers Group plans to review and rationalise the store portfolio, cost base, organisational structure, and operating model.

Aligned with its ‘Elevation Strategy’ Frasers Group aims to leverage its operational expertise and luxury brand relationships (including Gucci, Moncler, Burberry, Prada, and Dior) to return the 200-year-old retailer to long-term profitability.

Read the full announcement at Frasers Group

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Financially troubled Italian recycled carton board producer Reno De Medici (RDM) has entered the legal implementation phase of its planned recapitalisation. In early August 2026, the company signed a Debt Restructuring Agreement with its financial creditors under Article 57 of the Italian Insolvency Code and filed it with the Court of Milan.

The agreement has unanimous backing from lenders under RDM’s revolving credit facility and support from noteholders representing 96.11% of its €600m outstanding notes. It would convert up to €300m of debt into equity and provide €100m in new financing. 

Existing shareholders would retain a 5% economic interest and, subject to court approval and other conditions, completion is expected in the fourth quarter of 2026.

Read more on this story at EUWID Pulp and Paper

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