26November2022

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Netherlands: Ciccolella Holding is Bankrupt

Flower trade organisation Ciccolella Holding International, the Dutch 'daughter' of the listed Italian company Ciccolella S.p.A., is bankrupt. The courthouse of Amsterdam approved the request for the bankruptcy, as could be read at the website of BNR. The debts of the company reached almost € 30 million. The ABN AMRO bank announced that it can no longer guarantee the payments of its customer Ciccolella. As a result, Ciccolella will not be able to purchase products at FloraHolland.

The receiver Wouter Jongepier is working on a second beginning of the smaller parts of the company. But according the him, about 100 companies, including transporters and sub-contractors with unpaid bills will lose their money.

Ciccolella Holding International is the number three of the chard of biggest flower exporters in the Netherlands. It's turnover is € 230 million and te numer of employees is 300.

The holding includes the sales labels: Zurel, Sierex, TopFlora, Disva, Disva GCP Diskoflora and Sumser. Ciccolella's expansion in the Netherlands began in 2006 with the acquisition of Zurel, one of the biggest players in Europe in the plant and flower trade. In 2007, Ciccolella acquired the Leliveld Group (Top Flora and Sierex) and Flower Plant Partners (Disva, Disva GCP, Diskoflora).

Source: HortiBiz - Netherlands: Ciccolella Holding is Bankrupt