The Verona court declared the Paluani spa bankruptcythe historic confectionery company of Dossobuono, protagonist of a famous Christmas spot.
The group, known for the production of pandoro, panettone and dovesin 2022 it had sold the productive activities to sperlariwhich belongs to the German confectionery group katjes international.
After the operation, the original company, Paluani spa, which belongs to the Campedelli family, already the owner of the Chievo team, was left with the management of the properties, which in the meantime have been partly sold.
82 million euros of debt
Over the years, the company has been overwhelmed by a series of financial difficulties that led it to sell its assets worth 7.6 million euros to Sperlari at an auction organized by the court last year.
The court reached the decision of declare bankruptcy have revoked the admission to the bankruptcy procedure.
The company was questioned with “very low percentages of creditor satisfaction because, compared to a total amount of almost €82 millionthe amount that is made available is only 815,660 euros.
“The shareholders, the directors and the mayor did not grant the guarantees required to cover the commitments,” the court explained, “with an inevitable extension of time and greater damage to the claims of creditors.”
Chievo’s bankruptcy
Among the factors that led to the Paluani crisis were also the exhibitions against Chievo Calcio, which went bankrupt a year ago.
In 2021, the confectionery company had said that it had credits of 3.5 million from the soccer club as a shareholder loan and that it “has given guarantees for around 11.7 million” to Chievo, “on an exhibition debt that October 19, 2021 equals 6.9 million.”
According to Paluani, the agreement with the creditors should be the “instrument to interrupt inter-company relations and focus the company on its main activity.”
There end of adventure Chievo It had serious repercussions on the company. The company has not been able to withstand the impact of the pandemic that has seen television revenues and especially stadiums collapse. In August 2021 he was excluded from the professional leagues, and therefore from Serie B, due to non-payment of taxes.
The company had appealed against Federcalcio, Coni, Lega Serie B and Cosenza Calcio, in relation to the ruling of the Lazio Regional Administrative Court regarding the exclusion of the Verona club from the championship, but the Council of State rejected the appeal, confirming the actions of the FIGC. On June 24, 2022, the court officially declared Chievo Verona failed for debts with the Treasury.
