Stefano Gabbana has resigned as chairman of Dolce & Gabbana and is weighing options for his roughly 40% stake as the fashion house enters debt negotiations with lenders. Gabbana, 63, stepped down in December; Alfonso Dolce, Domenico’s brother and CEO, took over as chairman in January. The house faces pressure from a prolonged luxury sector slump and geopolitical uncertainty. Lenders are seeking fresh funds of up to 150 million euros ($175.5 million) as part of a broader refinancing of 450 million euros ($526.5 million) in debt. Former Gucci CEO Stefano Cantino is set to join in a senior management role.

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