NEW YORK, NY —Algemene, the well known upholstery velvet and textures producer has closed its mill as part of a quietly held and recent bankruptcy filing by its owner, Stefaan Verstraete. Algemene was founded in 1923 in Ledegem, Belgium but Verstraete has owned it for about 20 years. He is also the owner of Verstraete Verbauwede, a producer of middle range velvets and carpets. He was not available for comment nor did he state the reason for the bankruptcy which is still a mystery since the Algemene line reportedly sold very well. Algemene produces flat woven textures, cut and uncut velvets and face to face velvets in a price range of $19-$47 in mostly yarn dyed goods. Luc Callens, Algemene’s marketing director, hopes to continue the line at another Belgian mill location. He viewed the bankruptcy as a temporary setback which he hopes to resolve in the near future. “I am working myself on a new project including Algemene and our goal is to continue the Algemene total collection within maximum two months,” Callens said on his return to Belgium from Showtime in High Point, NC. The new venture he alluded to “will be in another building…but this is a minor thing, just a question of moving looms and machinery.” “It will not affect High Five’s sales operation,” he said. High Five is the independent U.S. based sales agency for Algemene in North America where Callens is also marketing director. “High Five is not influenced…there is no link…there will be some income loss for a few months; we are not looking for the replacement of Algemene USA,” he said. “Indeed the new collections were doing very well during Showtime; we will just maybe skip the one season until the whole situation is solved.” High Five has five other lines in its portfolio, including Depoortere Velvets, Trapo cottons, Vilber prints, Bruvatex and Penelope. Callens notified his sales people of the closing December 6. It was a surprise to all, coming right after Showtime in High Point, N.C. where the Algemene line was successfully shown, said one sales agent for the line. Callens also said the Algemene looms have not yet been sold at but the Belgian receivers are evaluating the looms at this time. The building and land in Ledegem are now also for sale, it was learned. Algemene first began selling into the USA in the 1960’s through the Purcell Letchinger agency in Chicago and more recently through the High Five agency. Algemene has a substantial export business through foreign agents worldwide.