Quantuma’s Andrew Watling and Duncan Beat, the joint liquidators of La Perla, which traded as Global Management (UK) Limited, have finalised the sale of the lingerie business and its Italian factory to American billionaire businessman Peter Kern, who is the former CEO of Expedia travel group.

The business first faced problems in 2023 when HMRC issued a winding up order due to a £2.8m unpaid tax bill forcing the business to the wall.

Now the business has been saved from total closure following the successful outcome of a competitive sale process under Italian law which ended in May 2025, with a number of interested parties taking part in the bidding, and saw Kern emerge as the successful bidder.