Ninestar’s Investment in PRINK-AQA Goes Bust: Italian Court Places Company for Sale for Millions.

toner · 2025-01-14T16:19:26+00:00

Italian Court Puts PRINK-AQA Up for Sale as Financial Crisis Strikes Ninestar Venture. In a significant development, PRINK S.p.A. and AQA S.R.L., both part of the AQA-Ninestar Group, are officially entering insolvency proceedings in Italy, triggering the sale of the once-prominent retail network. After several years of financial distress, Italian courts have intervened, placing the group up for auction. This dramatic turn of events follows the heavy investment by Ninestar, a leading player in the global imaging industry, which acquired a majority stake in PRINK only two years ago. Court Intervention Amid Insolvency Crisis. On August 20, 2024, the Ordinary Court of Bologna issued a decree appointing judicial commissioners to oversee the insolvency process of PRINK S.p.A. and AQA S.R.L. The companies, both facing significant financial turmoil, are now under strict judicial scrutiny as they attempt to restructure their operations. The court's intervention includes the appointment of commissioners with expansive powers to access financial records and other critical documents, ensuring transparency throughout the process. The court's decision came after the companies' struggle to stabilize their finances, a challenge that has escalated in recent months. For PRINK, once Italy’s largest retailer of printer consumables, and AQA, a key subsidiary under Ninestar's ownership, the future is now uncertain. Ninestar's Investment in PRINK-AQA Group In September 2022, Ninestar made a bold move by acquiring a 51% majority stake in PRINK S.p.A. through its AQA-Ninestar division. The acquisition was hailed as a strategic decision to expand its reach in the Italian retail market, particularly in the rapidly growing sectors of printing and smartphone repair services. At the time, the deal seemed to position Ninestar for significant growth within Europe, particularly in Italy, where PRINK had already established a widespread presence with more than 500 retail outlets. However, despite the initial optimism surrounding the acquisition, the companies’ financial situation quickly deteriorated, plagued by mounting debts, operational inefficiencies, and the broader economic challenges of the European market. An Exclusive Opportunity: PRINK-AQA Group on the Auction Block With the intervention of the court, the PRINK-AQA group is now up for sale. The upcoming auction, scheduled for February 6, 2025, presents a rare and potentially lucrative opportunity for investors. The sale package includes not only the two flagship companies—PRINK S.p.A. and AQA S.R.L.—but also several associated subsidiaries such as IRIPARO S.R.L., COLORCLUB.IT S.R.L., and Fotoprint Distribuzione S.R.L. The group’s assets on the block include its technical infrastructure, employee contracts, trademarks, patents, certifications, and extensive commercial affiliations. Moreover, buyers have the option to purchase the group’s current inventory at a significant discount, adding value to the package. At a starting price of €2,650,000, the auction offers an attractive deal for those looking to enter the Italian retail market or expand their presence in the printing and smartphone repair sectors. The total package, including inventory, is available for €4,750,000. Bidders must make incremental offers of at least €50,000, with a 10% deposit required to participate. Diego Fontana: "The goal of the companies involved in this procedure is to apply for a group arrangement with indirect business continuity, which includes planning the transfer of the companies' assets to a third party during this phase, in accordance with the necessary competitive process" The Future of PRINK-AQA Group While the PRINK-AQA Group’s financial troubles have cast a shadow over its promising growth trajectory, the sale represents a critical turning point. The group’s established market presence, combined with its operational infrastructure and trained workforce, offers an appealing entry point for businesses aiming to expand in Italy or diversify their offerings. As the auction date approaches, the fate of PRINK and AQA will be determined by the market’s appetite for such an acquisition. Investors looking to capitalize on Italy’s largest printer and smartphone repair retail network may find themselves facing an enticing opportunity, albeit one fraught with challenges. For Ninestar, the collapse of this investment underscores the risks associated with expanding into international markets, where even the most well-established brands can face significant financial setbacks. With the court taking control of the sale process, the future of the PRINK-AQA brand now lies in the hands of potential buyers, who will need to navigate the complexities of the insolvency process while envisioning a strategy to restore the group’s fortunes.

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toner
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Italian Court Puts PRINK-AQA Up for Sale
as Financial Crisis Strikes Ninestar Venture.
In a significant development, PRINK S.p.A. and AQA S.R.L., both part of the AQA-Ninestar Group, are officially entering insolvency proceedings in Italy, triggering the sale of the once-prominent retail network. After several years of financial distress, Italian courts have intervened, placing the group up for auction. This dramatic turn of events follows the heavy investment by Ninestar, a leading player in the global imaging industry, which acquired a majority stake in PRINK only two years ago.

Court Intervention Amid Insolvency Crisis.
On August 20, 2024, the Ordinary Court of Bologna issued a decree appointing judicial commissioners to oversee the insolvency process of PRINK S.p.A. and AQA S.R.L. The companies, both facing significant financial turmoil, are now under strict judicial scrutiny as they attempt to restructure their operations. The court’s intervention includes the appointment of commissioners with expansive powers to access financial records and other critical documents, ensuring transparency throughout the process.

The court’s decision came after the companies’ struggle to stabilize their finances, a challenge that has escalated in recent months. For PRINK, once Italy’s largest retailer of printer consumables, and AQA, a key subsidiary under Ninestar’s ownership, the future is now uncertain.

Ninestar’s Investment in PRINK-AQA Group
In September 2022, Ninestar made a bold move by acquiring a 51% majority stake in PRINK S.p.A. through its AQA-Ninestar division. The acquisition was hailed as a strategic decision to expand its reach in the Italian retail market, particularly in the rapidly growing sectors of printing and smartphone repair services.

At the time, the deal seemed to position Ninestar for significant growth within Europe, particularly in Italy, where PRINK had already established a widespread presence with more than 500 retail outlets. However, despite the initial optimism surrounding the acquisition, the companies’ financial situation quickly deteriorated, plagued by mounting debts, operational inefficiencies, and the broader economic challenges of the European market.

An Exclusive Opportunity: PRINK-AQA Group on the Auction Block
With the intervention of the court, the PRINK-AQA group is now up for sale. The upcoming auction, scheduled for February 6, 2025, presents a rare and potentially lucrative opportunity for investors. The sale package includes not only the two flagship companies—PRINK S.p.A. and AQA S.R.L.—but also several associated subsidiaries such as IRIPARO S.R.L., COLORCLUB.IT S.R.L., and Fotoprint Distribuzione S.R.L.

The group’s assets on the block include its technical infrastructure, employee contracts, trademarks, patents, certifications, and extensive commercial affiliations. Moreover, buyers have the option to purchase the group’s current inventory at a significant discount, adding value to the package.

At a starting price of €2,650,000, the auction offers an attractive deal for those looking to enter the Italian retail market or expand their presence in the printing and smartphone repair sectors. The total package, including inventory, is available for €4,750,000. Bidders must make incremental offers of at least €50,000, with a 10% deposit required to participate.

Diego Fontana: “The goal of the companies involved in this procedure is to apply for a group arrangement with indirect business continuity, which includes planning the transfer of the companies’ assets to a third party during this phase, in accordance with the necessary competitive process”

The Future of PRINK-AQA Group
While the PRINK-AQA Group’s financial troubles have cast a shadow over its promising growth trajectory, the sale represents a critical turning point. The group’s established market presence, combined with its operational infrastructure and trained workforce, offers an appealing entry point for businesses aiming to expand in Italy or diversify their offerings.

As the auction date approaches, the fate of PRINK and AQA will be determined by the market’s appetite for such an acquisition. Investors looking to capitalize on Italy’s largest printer and smartphone repair retail network may find themselves facing an enticing opportunity, albeit one fraught with challenges.

For Ninestar, the collapse of this investment underscores the risks associated with expanding into international markets, where even the most well-established brands can face significant financial setbacks. With the court taking control of the sale process, the future of the PRINK-AQA brand now lies in the hands of potential buyers, who will need to navigate the complexities of the insolvency process while envisioning a strategy to restore the group’s fortunes.
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January 14, 2025 at 4:19 PM

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