68 million euros in debt

The historic Italian company which, in the 1930s, gave birth to the famous mocha, pride of Made in Italy, would be burdened with 68 million euros of debt. Founded in 1919 by Alfonso Bialettithis reality may disappear crushed by the recent fashion of pods and capsules.

Serious doubts about business continuity

According to the opinion of the audit company [VIDEO], the group Bialetti recorded a loss of 15.3 million euros in 2018, a net deterioration compared to the red loss of 1.6 million euros recorded the same period last year. The consolidated business figure, which stands at only 67.3 million euros, recorded a decrease of 12.1% from 76.6 million euros. euros in 2017.

The audit also indicates that it is impossible to comment on Bialetti's half-yearly consolidated financial statements. Impossibility confirmed by the group itself in a press release according to which the accounts in red would be the consequence of a general contraction of the consumption recorded both on the domestic market and on the foreign market. The situation was exacerbated by severe financial stress which would have resulted in delays in the purchase, production and delivery of products for sale, leaving large quantities of previously acquired orders unavailable. In the same press release, the group also said that as of September 30, Bialetti Industrie Spa would have reported only a liquidity of only 520,000 euros with a debt of 40 million euros. euros.

Of these 40 million euros, 590,000 euros would be linked to unpaid wages [VIDEO] group the employees.

Bialetti mocha revolutionized how to make coffee at home

Production began in the 1930s and the company quickly became one of the leading Italian manufacturers of coffee makers. With the arrival of television, Carosello and Paul Campani, the myth of the little mustached man was born, represented by the inventor of the mocha Renato Bialetti. Since the 90s, the Bialetti family had then left the group by selling the business to Ranzoni di Rondine. Nevertheless, Renato Bialetti's connection with his invention was so strong that in 2016, the year of his death, his ashes were deposited in a giant mocha.

Fortunately or unfortunately, time pbades and fashion changes and mial Bialetti may be forced to give way to the more modern phenomenon of pods and capsules that, on the one hand, have allowed Italians and the rest of the world. world to prepare coffee at home faster, but on the other they have fostered the end of a myth that had made history.