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Italian Hat Maker Borsalino Declared Bankrupt

One of the world’s most famous hat makers, Borsalino, faces liquidation after a rescue plan was rejected by an Italian court on Monday.

From Reuters:

A judge in the northern town of Alessandria, where the luxury hat maker was founded 160 years ago, refused a request for court protection from creditors, who are owed some 18 million euros ($21 million), a local trade union leader told Reuters.

Following Monday’s decision, two court-appointed officials will wind down the company to pay back creditors. Armosino said that unions expected further details “in the next days”.

The judge’s decision will not stop production at Borsalino, which has 134 workers and makes some 150,000 hats a year.

Click here to continue reading at Reuters.


  • 1. well known store wrote:

    This could have been avoided had there not been such terrible greed on both sides . There were six stores in the Yiddeshe community that all did well until one person decided to take EVERYTHING away for himself .
    This was done in Israel and then here in the USA. So many people were hurt because of this …..

    • 2. Berel wrote:

      Nothing to do with that store. That was a symptom not a cause, how many niche brands limit their product to one or two stores in the world in favor of being the featured product in every store for the genre.

      Likely, that guy paid the most and they had to take the offer because they had very poor cash flow.

      In any case, good riddance to overpriced garbage, maybe now the hat can become a commodity item whose price closely tracks the price of production and distribution like it should be.

      As aside, it was a bitterly ugly company that abused its vendors.

      Good riddance.

  • 6. Jack wrote:

    As a owner of a hat store in New York For many decades Yes it’s greed I agree with number one! What goes around comes Around!!! I hope somebody else will buy the company and that everything will go back to normal

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