Rumors that Optotrades was on the verge of bankruptcy have been denied by the management of this Italian buying group, which services around 300 optical retail stores. At the end of 2006 Optotrades did in fact post a €839,000 loss, caused by a few customers who had not paid for a number of major orders. Unable to recover these sums owed, the group's net profit for the year turned into a loss, but in October 2007 the group's optician-partners decided to recapitalize it, injecting around €1 million in new equity.
Optotrades was able to close 2007 with an operating profit (EBIT) of €90 million. The sell-in for the stores was €22 million, the same as in 2006. The damages caused by terrible fire that broke out last Nov. 8, destroying the company's warehouse and offices, was entirely covered by the group's insurance and had no incidence on its results. Its joint venture with four other buying groups remains active: they are Free Optik in Lazio with 190 outlets, Provision in the Marche region with 32 stores, Altolivello in Puglia with 32, and Provision in Barcelona with 130.