Gruppo Coin’s financial crisis has led to a series of institutional meetings to address the difficulties and define a revitalization plan. Particular attention has been paid to closing stores in Italian cities, with implications for employment and corporate sustainability.
Situation of stores in Rome
In the capital, the closure of two stores, located in Lunghezza and Bufalotta, has already been announced as part of the corporate restructuring plan. These are part of a total of seven stores slated for closure in Italy. The others are San Donà di Piave (VE), Latina, Vincenza, Milan City Life and Sesto Fiorentino (FI).
As for the store at Roma Termini, it is currently under observation because of issues related to lease renegotiation. Economic sustainability is at the center of negotiations with the owners of the spaces.
Future prospects
Coin has declared a reabsorption plan for the 92 employees involved in the closures, seeking to relocate them to other Group stores. However, unions have demanded guarantees on transfers and relocations.
The Ministry of Enterprise and Made in Italy (MIMIT) highlighted the importance of the relaunch of the Coin Group, which involves more than 1,300 workers nationwide, many of them women. The capital increase of more than 21 million euros, supported by new investors such as Sagitta SGR and MIA Srl, is a crucial step in ensuring business continuity. However, the success of the plan will depend on the successful conclusion of negotiations.
The next meeting to monitor the progress of the plan is set for March 31 at MIMIT in Rome.