Ilva, which launched in the UK in 2006, made a £62m loss in the UK last year and has appointed corporate recovery specialist Kroll, advised by Camerons restructuring partner Martin Brown.
Eversheds banking and real estate finance partner Simon Mead is acting on behalf of Kaupthing, the lending bank.
DLA Piper’s London restructuring head Michael Fiddy is representing CEVA Logistics, which helped Ilva launch its chain of warehouses in the UK.
Manchester-based Heatons has been instructed by Ilva and its investors.
Camerons’ Brown told The Lawyer: “[Ilva is] a very well-established brand in Scandinavia. It’s the UK operation that’s going into administration. They are withdrawing as gracefully as possible.”