82 million in debt – Corriere.it

The Verona court declared the bankruptcy of Paluani spa, the historic Dossobuono confectionery company founded in 1921. The company that produces pandoro, panettone and colombe, owned by the Campedelli family, already owner of the Chievo team, had sold in 2022 the production activities in Sperlari, which belongs to the German confectionery group Katjes International.

82 million euros of debt

Over the years the company has been overwhelmed by financial difficulties which led it to sell its assets worth 7.6 million euros to Sperlari in an auction organized by the court last year. The court arrived at the decision to declare bankruptcy having revoked the admission to the arrangement with creditors procedure. Very low percentages of satisfaction of creditors have been contested against the company as a result of the fact that compared to a total amount of almost 82 million euros, the sum that is made available is only 815,660 euros. The shareholders, the directors and the mayor have not provided the required guarantees to cover the commitments, the court explains, with an inevitable extension of the times and further prejudice to the creditors’ claims.

The bankruptcy of Chievo

This is the second bankruptcy sentence that the Campedelli family has to face. On 24 June 2022 the court had officially declared Chievo Verona bankrupt. In August 2021 Chievo was excluded from the professional leagues, and therefore from Serie B, due to tax defaults. The company had appealed against Federcalcio, Coni, Lega Serie B and Cosenza Calcio, regarding the sentence of the Lazio Regional Administrative Court relating to the exclusion of the Verona club from the championship, but the Council of State rejected the appeal, confirming the actions of the FIGC.