Paluani went bankrupt: pandoro and panettone company went bankrupt with debts

The Verona Court declared bankruptcy of Paluani Spa, a historic company that has been producing confectionery products since 1921, including the typical Christmas sweets pandoro and panettone. Just last year, the manufacturing activities, brand and factory were sold under the new Paluani 1921 Spa name to Sperlari, owned by the German confectionery group Katjes International, for 7.6 million.

The controlled company of the Campedelli family, which also owns the Chievo football team, continues to own the real estate, some of which has already been sold. The bankruptcy trustee will be former liquidators Matteo Creazzo and Andrea Rossi, who will call creditors on October 23 to review the debt situation. With the cancellation of the issuance procedure, bankruptcy was motivated to challenge the company with a number of critical problems, including the limited possibility of satisfying creditors. For a total sum of approximately 82 million euros requested, the company has made less than one million euros available for liquidation. Banks were exposed to a total of around 35.5 million Paluani, according to the ledgers brought to the Court by the application for approval of the regulation in April 2022. Among the institutes are Banca Valsabbina, Banco Bpm, Bper, Caribolzano, Carige, CereaBanca Cre’dit Agricole, Credito Valtellinese, Mps, Unicredit.

Source: Today IT