Italian Retailer Coin Taps KPMG to Advise on Debt Burden

Italian department store chain Coin SpA is working with advisers at KPMG LLP to help it address its debt, according to people familiar with the matter who asked not to be identified.

Coin has come under pressure from a slowdown in the retail industry and faces imminent debt maturities. It had around €87 million ($93.1 million) owed to banks and €121 million due to suppliers as of January 2023, according to its latest available annual statements.

A spokesperson for Coin said the company had mandated a “leading international adviser” to help draft a new business plan and explore options to ...