Borsalino, the 150-year-old high-end hat company whose wares have graced the heads of Humphrey Bogart, Jean-Paul Belmondo, and, more recently, Pharrell Williams, is said to be headed for bankruptcy, according to a Quartz report. The site quotes the Italian newspaper Il Sole 24 Ore, which says that the company’s board is “evaluating different options to combat the financial difficulties and enable the company to continue its activity.”
Since being founded by Giuseppe Borsalino in 1857, Borsalino has dressed many a natty gent — including onscreen, in perhaps its most notable appearance on Indiana Jones. However, in recent years it has been hurt both by decreased sales and by its majority investor, a German company whose chief has been charged with fraud and tax evasion. The report claims that the company has filed for the Italian equivalent of Chapter 11.