Turns out that Nardi entering into administration wasn’t such a shock after all for the Italian press at least, even if it was to us as there had been difficulties at the company for some time it has been reported.
It transpires, according to what we can glean from translated Italian reports, that a Judge in Sernaglia, Northern Italy actually sealed Nardi’s fate on July 12th.
Nardi used to be known as Nardi Spa but (as we understand it) Nardi Srl leased the business unit and much of the company’s equipment from. This we believe was part of a bid to get the company back on track.
Interestingly it is reported that a couple of years ago a Chinese company was interested in buying or entering into partnership with Nardi, even going as far as some of those Chinese companies at one point sharing a trade show stand with Nardi.
Through this time it would seem however the company was beset with worker strikes on an almost weekly basis which would certainly have done little to help the company’ position at all.
During this time Nardi was negotiating with Beko as well, presumably to sell the business to the Turkish rival but that never came to anything. Then, the Chinese company had a crack at it as well and again, it fizzled out.
Things started to improve for the company as it reputedly secured orders for four and half million Euros worth of orders but it didn’t have the funds avaialble to buy in the raw materials and components required to satisfy the orders that it had. This its a great shame and we expect what ultimately led to Nardi having no option but to close its doors for good.
Now there are reportedly 150 former workers of the company (the ones that probably were striking) seeking about two and half million Euros worth of unpaid salaries.
The liabilities of the company are set to be examined and considered by a court in Monza on 8th November.
Our thanks to Andy at AWS for the links to information in this report.
