Follow-up report on Bilotti's bankruptcy news, Italian official statement

The news of the bankruptcy of Mocha teapot than Letty? The coffee shop continues to follow up on the bankruptcy of Biloti Italy [Mocha Coffee Pot Billerty declared bankruptcy! The century-old Italian brand Bialetti will be a follow-up report on Italian history.

Yesterday, on October 30, the news media Chinanews.com published a news article entitled "Italy's Bayerati company declares bankruptcy, coffee mocha pot will be history". Today, Italian officials positively denied the idea of bankruptcy. What's going on?

Event Review:

Foreign media reports say like this:

How does bankruptcy news ferment?

The initial source of the news was a website called "European networking": "recently, the Italian court announced that Italy's famous coffee maker, Bialetti, which has a long history in Italy, has officially entered bankruptcy proceedings," the European Network quoted the European Union News Agency as saying.

It also lists detailed data on sales, liabilities and losses of Bialetti in 2018:

In the first half of 2018, Bilody's global sales were 67.3 million euros, a decrease of 12.1 percent compared with 76.6 million euros in the same period in 2017, and its debt has reached 68 million euros. "

The Italian media began to spread the news of bankruptcy.

When our fans saw the news yesterday, they were very reluctant to believe that a classic coffee utensils brand had come to an end like this. It was a pity that the head of Letty's Chinese market contacted us and said, "this confirmation is false news." tomorrow Italy will come out with official documents to refute the rumors! At present, Biloti will continue to provide high-quality coffee utensils for coffee lovers. "

Some fans also left us messages: foreign news reports are 'filing for bankruptcy protection' rather than bankruptcy, and bialetti is currently negotiating financing with a hedge fund company in the United States, and even if it goes through bankruptcy protection procedures in the future, bialetti will continue to operate after restructuring rather than bankruptcy.

The coffee shop continues to follow Biloti's news follow-up report, and today, the Italian Bialetti issued an official statement.

The Italian side responded positively. Here's the thing.

(the picture shows the original statement, and the following is the official interpretation of Bilody Bialetti in China):

Dear customers,

With regard to the news articles released over the past few days, we would like to point out that there is no "risk of extinction" in the production of Moka coffee makers mentioned in different newspapers and articles.

According to the bailout law of Italian companies, Bialetti signed a term contract with Och-Ziff Capital Investments on October 10, 2018, and the company will invest 40 million euros to restructure Bialetti.

On October 29th, Bialetti applied to the Brescia court for authorization to issue the equivalent of 17 million euros of bonds for the first time, which will be subscribed by Och-Ziff.

With regard to the news report that "Mocha manufacturers have lost market share due to competition from coffee capsule machines", we inform you that moka express's turnover increased by 6.8% in the first half of 2018.

Also produces and sells coffee capsules and coffee powder, and produces a fourth positioning in the capsule section (from IRI-Information Resources S.r.l research data, provided by InfoScan Census on the annual consumption of large retail chains during the period from September 17 to August 18, retail tracking service surveyed very large self-service shopping malls, supermarkets, 100 square meters or more self-service areas. Including smaller supermarkets, small markets, discount stores).

You can find all the press releases issued by Bialetti in October 2018 in this email.

This time, if you are worried about the replacement of spare parts and the after-sales service, you can rest assured and drink a cup of Italian coffee.