 The company went into administration in April 1989 following a dispute over the strategic direction of the firm that had seen Elio offer to buy out Aki Nuhi.The company was rescued by the Tacchella brothers of Italian jeans company Carrera S.p.A., who sold on the company to Japanese jeans group Edwin Co., Ltd for 45bn lire (~US$41m).In January 1996 after a plea bargain, Elio Fiorucci was given a suspended jail sentence of 22 months for inflating the value of invoices to increase the value of the company to Carrera at the expense of his creditors.