The Italian company is in crisis and has asked for an arrangement with creditors to avoid bankruptcy. Already in 2018 Paluani had closed the annual turnover with a loss of about 1.7 million
The famous Pandoro Paluani, which for years has appeared in Italian homes during the Christmas period, is now in danger of disappearing. The Paluani SpA company, in fact, asked for an arrangement with creditors to avoid bankruptcy due to a large debt with banking institutions.
Veneto is a region full of realities in the field of pastry. La Paluani is one of the best known companies in the sector, a name that populates the tables of Italians when the holidays are approaching. As already happened also to Melegatti in 2018, however, now Paluani is also facing a difficult period. Founded by the Campedelli and Cordioli families in 1921 in Verona as “Pasticceria Paluani”, the company is famous for the production of anniversary sweets (pandoro, panettone, colomba), leavened cakes and snacks. Since 1992 Luca Campedelli, son of the founder, has been at the helm of the historic company and is also president of the Chievo Verona football team.
This Christmas could represent the last chance to eat the famous Pandoro Paluani, as the company risks bankruptcy. Crucial for the fate of Paluani will be the 2021 Christmas campaign. At stake there are hundreds of employee jobs but also many seasonal workers.
In 2018 Paluani had closed the annual turnover with an amount of 56 million euros, but already from the following year it had gone negative with a loss of about 1.7 million. Covid-19 and the first lockdown, which fully involved the 2020 Easter campaign, put the Venetian company in a serious financial position. For this reason, at the end of October Paluani requested an arrangement with creditors in order to avoid bankruptcy due to debts.
Another big problem for Paluani is the Chievo Verona football team, which in October 2021 was ousted from the professional league again due to debts. The confectionery company of Verona, in fact, boasts credits of approximately 3.5 million towards Chievo. Now commissioners have been appointed who have the task of presenting an industrial recovery plan by the end of February 2022.