After just a year as creative director of Malo, designer Alessandro Dell'Acqua is leaving, WWD reports. Starting with spring 2009, the label will be designed by a team and will focus on its core knitwear business. Malo is owned by IT Holding, which filed for the Italian equivalent of Chapter 11 bankruptcy at the end of February. Dell'Acqua came on as creative director to replace Tommaso Aquilano and Roberto Rimondi when they moved over to Gianfranco Ferré, which is also owned by IT Holding. Reasons for the split are unknown at this time. With IT Holding in administration, a European fund has already set its sights on Malo. So if it changes ownership, a new head designer might eventually come on.