Famed Italian Hatmaker Borsalino Declares Bankruptcy

16

Famed Italian hatmaker Borsalino was declared bankrupt on Monday, a trade union said.

The 160 year old company has been on the decline for years, having hit its peak in the 1920’s, producing two million hats a year. In more recent years the company’s sales faltered and the famed hatmakers were forced to downsize to a mere 120 employees and take on large loans to stay afloat.

The Haeres Equita investment fund took control of the ailing company in 2015 in the hope of turning the situation around, despite a debt of $35 million.

Though a judge initially approved Haeres Equita’s proposals for repaying Borsalino’s creditors, it was later rejected by the court and a second such plan, presented a few weeks ago, was also thrown out. Read more here.

{Matzav.com} 

16 COMMENTS

      • When enfuriated employees block busy streets, they are lauded and face minimal police action. When bochurim demonstrate against the draft law, they are shamed and accused of chillul hashem. Forget the police response…

      • When enfuriated Teva employees block busy streets, they are lauded and face minimal police action. When bochurim demonstrate against the annual draft quotas and the terrible draft law, they are labeled as mechalelei shem shamayim, and face excessive policing tactics (skunk spray, violece, etc). Any idea why this is happening?

  1. If you read the article carefully, and this is more explicit in other articles, “industrial activity” will continue – in other words, they’ll keep producing hats for the while being. The question is – and this is what’s worrying the workers – how long this can go on.

  2. What are my neighbors in Lakewood going to do?? What are they going to wear?? The fathers in-law may now breathe a sigh of relief that their sons in-law will wear the same cheaper version hat that they have to wear! lol

  3. We all need to daven that they remain open. There is so much hakoras owed here, as without borsalino many more people would not wear hats. Many people feel good and stylish while wearing a name brand hat, especially the younger generation.

  4. וואס וועט זיין מיט די קינדער?
    With $200 hats unavailable, what will the boys now squeeze their hard working parents for?

LEAVE A REPLY

Please enter your comment!
Please enter your name here