A Culture Of Early Intervention

Q1. What trends are driving restructuring, distressed transactions, and deal activity in your jurisdiction?

In Italy, restructuring and distressed transactions are being driven not only by financial pressure, but also by the need to preserve businesses that are often still commercially viable. Markets have not disappeared, but the economic environment around them has changed dramatically. Energy price volatility from geopolitical uncertainty, alongside higher financing costs, have placed considerable pressure on liquidity and working capital.

This is particularly relevant for Italian SMEs, many of which are family-owned businesses with strong industrial know-how, loyal employees and long-standing customer relationships. In these cases, restructuring is increasingly seen not merely as a crisis response, but as a way to protect going-concern value, employment and local economic ecosystems. Activity is especially strong in Northern Italy, particularly Lombardy, Veneto, Emilia-Romagna