Repair chain iRiparo, owned by Prink, an Italy-based company, has been facing significant financial challenges. The company, known for its expansive network of franchise stores across Southern Europe, filed for “concordato con riserva” in August. This is a form of debt protection under Italian law, giving the company 60 days—extendable to 120 days—to propose a recovery plan. During this time, the company is shielded from creditors, offering management the chance to work on a strategy to overcome its financial troubles. The company enters the final face in the winding process and is auctioned for sale.
Bologna Court orders auction for Prink’s companies
In light of these difficulties, the Civil Court of Bologna has authorized the sale of several companies within Prink's portfolio. The auction, as part of procedure No. 353/2024, includes Prink S.p.A., AQA S.r.l., Iriparo S.r.l., Colorclub.it S.r.l., and Fotoprint Distribuzione S.r.l. The assets for sale are primarily business-related and do not include debts, credits, or real estate. These assets include technical equipment, goodwill, ongoing contracts (including employment relationships), intellectual property such as patents and trademarks, and commercial affiliations.
The base auction price has been set at € 2,650,000 for the companies, with a minimum bid increment of € 50,000. Additionally, an option is available to purchase finished stock inventory at a price of € 2,100,000. The sale allows for payment via up to 36 monthly installments, secured by a bank guarantee. Interested parties must submit a bid deposit and the required documentation to participate in the auction.
The diverse portfolio and iRiparo’s role
Prink’s portfolio is diverse, including several companies beyond its core business of printer supplies. One notable acquisition was iRiparo, a repair chain acquired in 2017 from Carlo Alberto Rolando, an Italian entrepreneur. Initially focused on Apple iPhone repairs, iRiparo has expanded to service all major phone brands. With over 324 repair points across Europe, iRiparo represents a significant part of Prink's operations.
However, iRiparo faced challenges, particularly the lack of manufacturer authorizations for both in- and out-of-warranty repairs, raising doubts about the long-term prospects of this division. Additionally, iRiparo has ventured into selling refurbished smartphones, which helps diversify its offering, but the repair business remains under intense competitive pressure.
Challenges in the Repair Industry
The financial troubles of Prink may be rooted in the intense competition within the repair industry. The European repair market has seen thinner profit margins, challenging businesses to remain profitable. At the same time, competitors like SAVE and ThePhoneLab have managed to expand internationally, proving that growth is still achievable in the repair sector if the right business model is in place. Whether Prink's issues are mainly related to iRiparo or its printer supply business remains unclear, but the competitive landscape makes it evident that the road to recovery will be tough.
Market
Trade-in
Repair
