€1.50
Malta-backed 'Italian
Ikea' goes bankrupt,
1,800 jobs lost
PAGE 2 INTERVIEW | PAGES 10 & 11
MATTHEW VELLA
A Maltese company held by un-
disclosed owners in a nominee
fi rm, Shernon, has been de-
clared bankrupt by a Milanese
tribunal in Italy, and with it, the
hypermarket chain Mercatone
Uno.
e chain's collapse has led to
the loss of 1,800 jobs in Italy, af-
ter a long period of crisis for the
retail company over the course
of 2018, when it was sold to two
diff erent groups.
Its core, furniture business
was held by Shernon Holding,
which also has a related tax-res-
ident company by the same
name, in Malta.
GO reports 12%
rise in operating
profit for 2018
Antonio Palumbo
on the success
of the Palumbo
shipyards and his
vision for the future
PAGE 3 PAGE 4
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THURSDAY 30 MAY 2019 • ISSUE 10
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