The Covid-induced crisis in the Italian organic sector has had devastating consequences for less efficient companies in specialized distribution. On December 10, 2024, the Milan Court declared the bankruptcy of Bioera, a company chaired until 2021 by the current Minister of Tourism, Daniela Santanchè.
Bioera, listed on the Milan Stock Exchange, had submitted a debt restructuring proposal, but the court rejected it, deeming the guarantees for the payment of over €8 million in debts insufficient. Judges highlighted the absence of a credible industrial and financial plan, as well as the lack of resources to satisfy
creditors.
Financial repercussions were swift: Bioera’s stock was immediately suspended from trading. The bankruptcy marks the demise of a significant player in the organic product and natural cosmetics distribution sector, raising questions about management practices and the future of creditors.
Santanchè has denied any responsibility in the matter, stating her lack of involvement in the events. Other companies within the group controlled by the minister also went bankrupt during 2024, including Verde Bio Italian Bakery, Ki Group Srl, and Biofood. What was once a burgeoning empire built on values of sustainability and healthy eating has unraveled into a web of debt, bankruptcies, and unfulfilled financial promises.
