Philenews

Violanta's Financial Standing Before the Deadly Explosion

Published February 25, 2026, 09:17
Violanta's Financial Standing Before the Deadly Explosion

Violanta, a company known for its biscuits and crackers, had been experiencing growth in recent years, with a significant increase in turnover and profits. It started as a small bakery in Trikala and evolved into an industry with three factories. However, the company's trajectory dramatically changed on January 26, 2026, when an explosion at the main factory in Trikala led to the death of five workers. The owner and CEO of Violanta, Konstantinos Tziortziotis, has been arrested and charged with felony manslaughter. The explosion was caused by a propane leak and its severity was comparable to 185 kg of TNT. The main factory has been temporarily closed due to safety concerns, while other factories have faced problems, such as a lack of fire safety certificates and checks for undeclared warehouses. The company is now facing serious financial problems, with sales collapsing and its reputation damaged. The market has reacted negatively and Violanta products are scarce on store shelves. The company, which was recently in a growth phase, is now in a critical situation. The history of Violanta began in 2003, when Konstantinos Tziortziotis and his wife began supplying local bakeries with cookies. Gradually, the company expanded and began producing private label products for supermarkets, while in recent years it has experienced significant growth, increasing its turnover from €9.07 million in 2016 to €44.95 million in 2024.