The Italian Sea Group faces rising debt and industrial crisis

The Italian Sea Group (TISG), a luxury yacht manufacturer, is facing a deepening financial crisis. As of late July, the company reported a debt of 179.59 million euros, including 148.87 million euros in short-term bank debt. This represents a significant increase from the 129.6 million euros reported at the end of 2025, with the debt peaking at over 181 million euros in June.

In response to the crisis, a high-level meeting has been scheduled for September 9 at the Tuscany Region Presidency in Florence. The meeting aims to address the group's industrial prospects and the potential impact on employment in the Massa Carrara area.

To mitigate job losses, the company and major unions—Fiom Cgil, Fim Cisl, and Uilm Uil—have reached an agreement to utilize solidarity contracts for approximately 500 employees. This measure follows a period where activity reductions were managed through vacation time, which is no longer considered sufficient. Unions are seeking specific guarantees regarding social safety net payments and contract entitlements.