A New York fund is the latest to try to breathe life into the long-ailing Italian shoemaker Bruno Magli.

Marquee Brands, a brand acquisition company set up in September by the New York-based private equity firm Neuberger Berman, is set to announce on Monday that it will acquire the luxury shoe label for 28.5 million euros, or about $34 million.

An Italian court had been evaluating offers for Bruno Magli after the shoemaker applied for insolvency proceedings in July with debt of nearly €20 million. The Carlyle Group was also said to be in the running to acquire the brand.

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Source: http://dealbook.nytimes.com