The decision to dissolve the company came “following careful consideration of the overall situation,” to avoid “the dissipation of company assets,” amid negative financial results, difficult prospects, and a contentious dispute between shareholders.
“Hoepli S.p.A. Has resolved to voluntarily dissolve and enter into liquidation.” The decision follows a meeting of shareholders and effectively ends a history dating back to 1870. The company explained that the choice was made “following a careful and in-depth reflection on the overall situation,” citing negative financial results, challenging prospects in the publishing market, and a “serious” internal dispute among shareholders. The stated goal is to ensure a “fair and efficient” procedure that protects creditors, employees, and stakeholders, preserving the value of company assets as much as possible.
The decision comes after weeks of internal tension and public attention surrounding the future of the company, which combines a bookstore and publishing house. At the heart of the matter is a conflict between the shareholders — the three Hoepli brothers and cousin Giovanni Nava, who holds just over 33 percent of the shares — which recently became public through an interview with Corriere della Sera. Until now, the company had remained silent: “Despite the media attention recently given to the company and employment issues at Hoepli, as well as unauthorized statements by unauthorized parties, the silence and reserve maintained until now have been dictated by the need to avoid anticipating essential events before the necessary decisions are made by the competent bodies,” the company stated. Today’s decision allows us to fully account for the deliberative process followed, in a framework of independence, balance and responsibility.”
The choice of liquidation — the statement reads — now represents “the legally appropriate solution to avoid the dissipation of company assets.”
The liquidation process has been entrusted to lawyer Laura Limido, chosen for her “undisputed professional competence and specific experience in conducting liquidation proceedings.” On March 9, Milan Mayor Beppe Sala expressed hope that a solution could be found (“Hoepli is a heritage of the city and I really hope a solution is found,” appealing to the sense of responsibility of all parties). Today, the situation escalated with a mobilization by workers. The 49 bookstore employees and nearly as many other Hoepli staff members declared a symbolic strike from 3 p.m. To 4 p.m., coinciding with the shareholders’ meeting before a notary public. In a statement released by the CGIL, Fistel-CISL and UILCOM unions, workers denounced the lack of a relaunch plan and demanded clarity about the company’s future. The unions confirmed public initiatives for Saturday, starting with a flash mob at 11 a.m. In front of the bookstore on Via Hoepli, to demand the protection of the cultural institution and the jobs of its employees.
