Getting precise numbers for Campagnolo is a bit difficult, with lots of different estimates floating around. Whatever the percentage loss has been it’s enough that Management publicly stated: current liquidity "cannot currently guarantee business continuity under current conditions".

In my experience with publicly traded U.S. companies when your auditors force you to put such a going concern disclosure in your financial statements it is very often a harbinger of impending bankruptcy.

I have no knowledge of European accounting standards or securities law. However if a US company said it, it would mean there was a high likelihood of bankruptcy, particularly, if they were already burning through an emergency round of financing as Campy has done.