Employees ready to take over Oikos: founder's approval.

Cesena, September 22, 2025 – Confcooperative has expressed its immediate willingness to support the employees of Oikos (until recently a successful manufacturer of eco-friendly paints) in a rescue operation through the investment of its own capital to overcome the serious crisis that casts the shadow of bankruptcy over the Gatteo-based company. For approximately a week, company operations have been suspended following the freezing of its bank accounts .

The court has the final say on the solution today, even though the employees' initiative has been approved by its founder, entrepreneur Claudio Balestri (also known for other projects such as the establishment of the Oasi Oikos , 130,000 square meters in the San Bartolo regional park between the Marche and Romagna regions, but also for the donation of 30 tons of paint for the restoration of the houses in Faenza hit by the flood) who created it 41 years ago.

"At this point in this matter," Balestri says, "I have no decision-making power, but I wouldn't oppose the continuation of the business in the hands of those who have dedicated themselves to it for years and still contribute to keeping the company afloat today."

Balestri, what brought a company that at the height of its success had a balance sheet of €36 million to the brink of bankruptcy ? "A tax debt to the Revenue Agency accrued due to a negative convergence triggered by one of our competitors, who poached more than ten people from senior positions in sales in Italy and abroad, causing us losses in lost sales of at least €10 million, from which we have been unable to recover. We were negotiating an agreement with the tax authorities, which is required by law, but they chose to strike us down. At this point, the court can block the Revenue Agency's action and give negotiations a new lease of life, or declare us insolvent."

How much is your tax debt?

“In just under 5 million and 300 thousand euros.”

What did your plan include?

“Not a one-off payment but a payment spread over the years as required by law.”

But did you also have to face market problems?

Our difficulties have been exacerbated by Covid and the war in Ukraine, once our preferred market, but these weren't the causes of the crisis. We have debts with social security institutions and banks, but it's the Treasury's actions that have paralyzed our business today. With blocked bank accounts, we can't pay our suppliers, and starting next week, we'll no longer have the raw materials for production. Fortunately, we had already paid our August salaries.

How are you feeling about this phase of your company?

"With deep frustration, especially since with bankruptcy, the Revenue Agency risks recovering no more than 20 percent of the debt, since the privileged creditors, including employees, are paid off first. They will also be held responsible for the demise of a company. At the end of my entrepreneurial career, I'm dealing with personal financial loss. My plans included selling the company and bringing in someone who could continue the business. Today, I'm evicted and have to find a job to make ends meet."

Do you think you've made any mistakes?

"Perhaps, as happens with those who work and take responsibility. But I've always run the company with the utmost transparency. I certainly haven't accumulated personal savings and hidden them away somewhere in the world."