Scapa and Spa raise the alarm: lack of resources to ensure plant operations. Unpaid suppliers, revoked bank credit lines, and a resigned board of directors worsen the situation. Urgent intervention from institutions requested.
The Broni, Casteggio, and Santa Maria della Versa wineries, managed by Terre d’Oltrepò Scapa and Terre d’Oltrepò Spa, risk being unable to accept members’ grape deliveries for the upcoming 2025 harvest. This emerges from a letter sent on July 28 by the boards of statutory auditors of the two companies to national, regional, and local institutions, including the Ministries of Agriculture and Made in Italy, the Lombardy Region, and Confcooperative.
The reason is the lack of available economic resources needed to guarantee plant maintenance operations. “The suppliers to be involved all have significant outstanding balances and are not open to further exposure,” reads the note in Winemag.it’s possession. Senator (from Pavia) Gian Marco Centinaio reacted promptly, calling for urgent government intervention.
TDO: NO FUNDING, MANAGEMENT BLOCKED
The boards of statutory auditors denounce the absence of the relevant institutions, accused of an apparent lack of interest in the “predictable and perhaps expected closure of the wineries.” Meanwhile, the activity of the corporate bodies is blocked. The boards are operating under ordinary administration and cannot intervene in management.
The assembly of the s.c.a.p.a. is expected on August 7 and 8, convened for the appointment of a new board of directors. Reportedly, the previous board remained in office for only a few days, despite being supported by Confcooperative, trade associations, and the Lombardy Region itself.
CREDIT LINES REVOKED, INDEBTED CUSTOMERS, PROCEDURES AT A STANDSTILL
The financial situation appears compromised. Banks have begun revoking credit lines, customers are not settling payments, and suppliers are resorting to injunctions. The negotiated settlement procedure for business crises, approved in early June and launched in July, has reportedly suffered significant delays due to the resigned board.
TERRE D’OLTREPÒ: CAPITAL INJECTION NEEDED
The boards of statutory auditors launch a final appeal: “Only a capital injection can save the wineries and the effects on members and the territory.” The hope is that the institutions, absent until now, will intervene to avoid the collapse of a central entity for the agricultural economy of Oltrepò Pavese.
Terre d’Oltrepò at risk of bankruptcy: alarm from the boards of statutory auditors. https://terredoltrepo.it/.
