Italian Sea Group to seek court protection as turnaround talks falter

Italian Sea Group to seek court protection as turnaround talks falter as The Italian Sea Group (TISG) said it will seek protection from creditors after negotiations with clients stalled. The Italian luxury yacht maker, listed on the Milan exchange, said its board approved a filing under Italy’s insolvency code. The move would let the company access court-backed protective measures while it prepares a restructuring plan and aims for business continuity. The company indicated that an out-of-court restructuring process is no longer feasible. The filing is designed to provide a formal pathway as it tries to stabilize operations and manage creditor expectations. The announcement follows reporting from Rome and comes with the company working toward a renewed turnaround strategy.