What: Italian government plans to invest in Coin through Invitalia as part of a EUR 21.2 million capital increase to preserve 1,390 jobs.

Why it is important: The government's involvement validates the strategic importance of preserving major retail chains for national economic stability.

The Italian department store group Coin is advancing towards a significant restructuring milestone with the potential entry of the Italian government into its capital structure through Invitalia, the national investment and business development agency. The company has already received binding offers for a capital increase valued at EUR 21.2 million, led by Sagitta SGR and MIA Srl, with current shareholders maintaining their participation. Following positive investigation results, Invitalia is poised to join these investors, a move that would guarantee operational continuity and support business recovery. The comprehensive relaunch plan, set to be presented in late April, focuses on preserving 1,390 jobs and includes the successful relocation of 56 employees affected by initial store closures. The company is also in negotiations with an additional potential partner, with the next crucial meeting scheduled for April 22.

IADS Notes: The Italian government's potential entry into Coin's capital structure through Invitalia marks a significant evolution in the company's restructuring journey. In December 2024, Coin initiated a comprehensive transformation plan to address its EUR 80 million debt burden, which included the planned closure of eight stores and impacted over 1,300 employees. The current development builds upon positive momentum from February 2025, when the company secured a EUR 21.2 million capital increase from private investors including MIA and Sagitta. This latest government intervention, combined with binding offers from private investors, demonstrates a hybrid approach to retail rescue, where public support complements private investment to ensure operational continuity and workforce preservation.

Coin finalises a relaunch plan with the Italian government entering its capital