Borsalino, the famous Italian hatmaker, was declared bankrupt earlier this month. The news was revealed by a trade union. The company was put into administration by a court in Alessandro after the court threw out a rescue plan for Borsalino.
UIL labor union representative Elio Bricola told AFP that is likely that the industrial operations of the hatmaker will continue for now. However, the news of bankruptcy has left the business’ employees worried about their future.
Although Borsalino has been in business for over 160 years, it is its links to celebrities that have helped this company remain popular through the decades and throughout so many changes in fashion trends. It is particularly famous for creating the fedora that Humphrey Bogart wore in ‘Casablanca’. One of their quality hats was also worn by Harrison Ford in the ‘Indian Jones’ series of films.
There have also been many celebrities who have worn hats by Borsalino in public and these have been a fantastic endorsement for the hatmaker. Michael Jackson was a fan of their distinctive style of Fedoras and singer Pharell Williams has also been seen out and about wearing one of their creations. David Bowie chose to wear one of these hats for his final photo shoot.
Another reason Borsalino is so famous is that a film was named after them. ‘Borsalino’ is a 1970 French gangster movie that was directed by Jacques Deray and starred Jean-Paul Belmondo and Alain Delon. It was so-called because of the hats that were worn by the stars of the movie.
Unfortunately, the endorsement of celebrities from both the music and film industries has not been enough to save the stricken company. Reckless management has been cited as one reason for the failure of this company and the situation has gone rapidly downhill in recent years.
In 2015, former boss Marco Marenco was arrested in Switzerland after going on the run from tax evasion and fraud. In the same year, Haeres Equita took control of the company in the hope of turning around its fortunes. Sadly, it seems it was too little too late for the Italian hatmaker.
