How Cardico Collapsed – Nut King’s Manufacturing facility Up For Public sale – 2024-06-14 05:31:28

June is actually one of many hottest digital hammers on the market. The rationale for the public sale of the central manufacturing unit of the bankrupt firm Cardico-Kardasilaris, in Schimatari.

The public sale of the manufacturing unit is probably the final scene of a superb story that ended ingloriously.

The “king” of nuts

Cardico was for a few years the “king” of nuts within the home market. Along with this place, he additionally had extroverted exercise with a presence in 26 international locations together with Britain, France, USA, Argentina, Georgia, Moldova.

Actually, the corporate was listed on the inventory trade. For about 13 years now, nonetheless, the corporate is in a state of chapter.

The corporate’s issues started in 2005 when it had a turnover of 230 million euros and pre-tax income of 12 million euros. Within the years that adopted, Cardico’s figures plummeted and its turnover didn’t exceed 60 million euros in 2010.

The collapse

The collapse of Cardico – Kardasilaris was attributed, to a big extent, to the multi-month – greater than 10 months – strike motion within the port of Piraeus as a result of reactions to the privatization of the PPA, which disrupted the sleek provide and execution occasions of orders.

Additionally the steep decline within the value of uncooked supplies, as a result of oversupply of floor almonds from international locations comparable to Turkey, Algeria and Iran, was additionally one more reason for the collapse of Cardico.

Cardico then discovered itself with very costly “closed” contracts, whereas retail costs have been at their nadir.

To all this was added the financial disaster in Greece, with Cardico already caught in entrance of a storm of financial developments, and thus the countdown to the tip of its

The fez

The Cardico firm, in line with the newest listing of main debtors of the AADE, has left a sum of 9.5 million euros to the tax authorities and about 4 million euros are the sums to the EFKA.

The money owed of the corporate and the chapter of Cardico, didn’t forestall members of the broader Kardasilaris household from 2020 to proceed to be lively in the identical enterprise by means of Cardassilaris Household I.Okay.E. specializing within the brokerage market of natural and traditional nuts, dried fruits, seeds, superfoods, and many others.

Konstantinos Kardasilaris who based the Cardassilaris Household I.Okay.E. he’s the son of Ioannis Kardasilaris. Ioannis participated within the founding of Kon. Kardasilaris & Sons SA in 1980, which was renamed Cardico SA in 1986.

The story of Cardico till the collapse

1826
The good-grandfather of Konstantinos Kardasilaris, Nikos, begins Afoi Kardasilaris together with his brothers in Chios. They promote mastic and export oranges, tangerines and soft-shelled almonds.

1930
The brothers Konstantinos and Mattheos Kardasilaris broaden from Chios to Piraeus, establishing Afoi Kardasilaris S.A. They commerce and export Greek citrus fruits, raisins, dried figs and almonds all around the world.

1968
Konstantinos Kardasilaris, together with his eldest son Nikos, founds Kardasilaris & Sons. Later, Constantine’s youthful sons, Ioannis and George, joined the corporate in 1971.

1980
The corporate turns into a joint-stock firm and is renamed Kon. Kardasilaris & Sons SA

1994
Kon. Kardasilaris & Sons S.A. is renamed to Cardico S.A.

1996
Cardico SA listed on the Athens Inventory Change

2003
Cardico SA is rising and changing into a number one importer and processor within the nut and dried fruit market from its state-of-the-art manufacturing unit in Greece.

The public sale

The public sale of the commercial complicated, along with the electro-mechanical tools and all different movable issues, has been scheduled for June twenty eighth, – with the chapter trustee expeditiously -.

It’s a plot of land with an space of ​​58,315 sq.m. which is situated within the Municipal Group of Schimatari of the Municipality of Tanagra in Viotia and particularly within the location “Rachili”, the place a nut processing and peeling business operated.

The commercial amenities have a complete space of ​​26,879 sq.m. of which the principle and auxiliary industrial areas cowl 20,804 sq.m., the principle storage areas 2,313 sq.m. and the supporting amenities 3,720 sq.m. The entire first bid value for the property and tools is ready at 9,593,000 euros.