Imatex Files Ch. 11 But Mill Still Weaves
May 22, 2023
Giulia Fumagalli
MILAN, IT—Imatex SpA on April 27, 2023, has filed a form of Chapter 11 under the Italian bankruptcy
Code.
Giulia Fumagalli, also the niece of Elio Fumagalli, the founder of Imatex, (deceased) could not be reached for further comment.
President and owner Giulia Fumagalli would not comment on this matter but it is now written in the Italian public legal record.
It is possible that a white knight could buy the mill out of bankruptcy which continues to weave fabrics even though the dye house and finishing facility is closed.
Some customers have waited one year for their orders to be filled, it was learned.
Imatex started life in 1960 and at one time had a turnover in excess of $40 million, with half of that business done in the USA.
It was one of the largest and best quality mills in Europe.
Code.
Giulia Fumagalli, also the niece of Elio Fumagalli, the founder of Imatex, (deceased) could not be reached for further comment.
President and owner Giulia Fumagalli would not comment on this matter but it is now written in the Italian public legal record.
It is possible that a white knight could buy the mill out of bankruptcy which continues to weave fabrics even though the dye house and finishing facility is closed.
Some customers have waited one year for their orders to be filled, it was learned.
Imatex started life in 1960 and at one time had a turnover in excess of $40 million, with half of that business done in the USA.
It was one of the largest and best quality mills in Europe.
