BULCIAGO, IT—Rumors about Tessitura Pietro Cazzaniga’s financial situation have been circulating in the USA and Italy since August but these rumors seem to be a bit overstated according to a company spokesperson.

Yes, Tessitura Pietro Cazzaniga’s third generation family owner Enrico Cazzaniga is actively looking for a financial partner for this 100 year old mill. Like so many other European mills, Cazzaniga is struggling to do business in the slow Euro economy but it still continues to operate and service a ‘who’s who list’ of important European editeurs and American based jobber clients, according to a company source.

Some editeurs are hedging their bets by moving some production to other mills but they are still doing business with Cazzaniga, it was learned by F&FI. Another industry veteran said that Cazzaniga makes very high end goods and the family is very wealthy and more than capable of supporting the mill through these tough times.

“We are still operating and getting orders from our customers. We will find a way to survive,” the company said. This may mean a reduction in the 90 employees which now work at the mill and possibly the disappearance of Cazzaniga from the halls of Proposte where “it is very expensive for us to exhibit,” it was said.