Paluani spa went bankrupt, crushed under the weight of 82 million euros in debt. Founded in 1921, the Veronese confectionery company is owned by the Campedelli family, who also owned Chievo, the football club that was officially declared bankrupt on June 24, 2022. Despite the bankruptcy of the old company, the production of pandoro, panettone and colombe continues through the business branch Paluani 1921 srl, which was sold last July to Sperlari, in turn controlled by the German multinational Katjes International. The sale saved 48 jobs.
Paluani spa still owns property, some of which has since been sold. The bankruptcy judgment was prompted by the challenge of a series of critical issues against the company, including the scarce ability to satisfy creditors: in the face of a total requested amount of almost 82 million euros, the amount that the company made available to creditors was equal to 815 thousand euros, about 1% of the total debt amount. In April 2022, according to the books filed with the court with the application for approval of the scheme, the banks were exposed to Paluani for a total of about 35.5 million euros. Among the institutes, Banca Valsabbina, Banco Bpm, Bper, Caribolzano, Carige, CereaBanca, Credit Agricole, Credito Valtellinese, Mps, Unicredit. The judge appointed Matteo Creazzo and Andrea Rossi as trustees and summoned the creditors on October 23 to investigate the state of affairs.
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Source: Corriere
I am Lawrence Sickels and I work in the news industry. For the past few years, I have been writing for The News Dept, a web-based platform dedicated to providing readers with quality journalism. My main area of focus is covering economic news and business trends across the globe.
