Borsalino Declared Bankrupt

Famed Italian hatmaker Borsalino, the company behind Humphrey Bogart’s fedora in “Casablanca” and Harrison Ford’s lucky headgear in the “Indiana Jones” movies, was declared bankrupt at the beginning of January.

Michael Jackson loved Borsalino hats, trend-setting music star Pharrell Williams is a contemporary fan and David Bowie opted for one of the Italian house’s black fedoras for what was to prove his final photo shoot.

The 1970 French gangster film “Borsalino” was also named after the distinctive fedora-style hats worn by heartthrob actors Alain Delon and Jean-Paul Belmondo.

But even the endorsement of film and music royalty could not protect the 160-year-old company from the consequences of reckless management.