Italy, L&Q Raises €300.000 to Safe Jobs and Expand

L&Q S.c.p.a., a Castelplanio (AN), Italy-based manufacturer of fitted kitchen furniture, has received a €300.000 investment from CFI, an institutional investor dedicated to working with social and worker cooperatives.
The cooperative was founded in March 2009 by 31 employees as a spin out of Linea Quattro S.p.A., which entered into a voluntary arrangement. The employees as well as other institutional investors including Coopfond, Foncooper e the new regional financial institution, will participate in the acquisition of L&Q.
The funds will enable the company, which today employs 37 people, to expand abroad, increase its turnover to €7m by 2012, as well as create four jobs.

Join the discussion