{
  "id": 3273429,
  "title": "Dolce & Gabbana secures debt waiver from banks after FY operating loss",
  "url": "https://urgent.news/2026/08/25/dolce-gabbana-secures-debt-waiver-from-banks-after-fy-operating-loss",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T13:28:12.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436490/dolce-amp-gabbana-secures-debt-waiver-from-banks-after-fy-operating-loss"
  },
  "original_language": "en",
  "account": "Italian luxury fashion house Dolce & Gabbana has secured a debt waiver from its lending banks following a fiscal year marked by a decline in profits and an increase in debt, according to the company's latest financial statements. The group's revenues declined by 2% in the fiscal year ending on March 31, 2023, to €1.86 billion ($2.17 billion), as reported by Reuters on Tuesday. Growth in their beauty division helped counterbalance a weaker performance in their primary fashion business, the company stated. The overall operating loss amounted to just over €100 million. Net financial debt rose to €464.5 million as of March 31, 2023, up from €379.6 million a year earlier, breaching the terms of their bank loans.\n\nUnder a new agreement with their lenders, the financial covenant breaches have been waived, and covenant testing has been suspended until March 31, 2028. In return, Dolce & Gabbana has committed to executing \"extraordinary financing transactions\" to bolster liquidity and ensure its net debt-to-EBITDA ratio falls below 3 by March 2028. Earlier this year, a source hinted that the privately owned group, advised by financial firm Rothschild, was exploring methods to raise additional funds, potentially through asset disposals such as real estate.\n\nIn a bid to raise capital, Dolce & Gabbana has recently extended its eyewear licence agreement with Essilor Luxottica until 2050, securing a €150 million boost, as per the company's filing.",
  "summary": "MILAN: Italian luxury group Dolce & Gabbana has reached an agreement with its lending banks to waive financial covenant breaches and shore up liquidity after reporting a fresh operating loss and higher debt, according to its latest financial statements. The privately owned group’s revenues fell 2% in the fiscal year ending on March 31 to €1.86 billion ($2.17 billion), according to a filing seen…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}