On 19 March 2015, the club was declared bankrupt with a total liabilities of €218 million (including unpaid wages of €63 million). On 22 April 2015, the intermediate holding company of Parma, Eventi Sportivi SpA, was also declared bankruptcy by the Tribunal of Parma. The club was then declared legally bankrupt on 22 June 2015 after no new investors willing to refurbish €22.6 million debt in order to trigger Comma 3 of Article 52 of N.O.I.F. to allow the club to remain in Serie B. Other debts of the club were either waived by the footballers or settled by the administrator. New investor was not required to repay the subordinated debt and bank debt of the old company. The medals of Parma, which was owned by the company, as well as Centro Sportivo di Collecchio which was owned by its holding company Eventi Sportivi, were under auction after the bankruptcy.