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Castellano-Beltrame Faces Liquidation

January 19, 2010

EAST LONDON, South Africa - Castellano-Beltrame International, a leader and longtime player worldwide in the design and marketing of high-end trimming and hardware for custom curtains and draperies for more than 40 years, entered the liquidation process Dec. 17, 2009, in South Africa.

The company is an important supplier to many wholesalers of trimming and hardware. Sources said the company expects to produce all back orders through January 18 but it is still not known whether or not this company will again emerge as a viable entity in the marketplace. The company was owned by Franco Beltrame.

Customers were notified by letter that the liquidation was taking place in the East London, South Africa headquarters. Some Castellano-Beltrame customers said they are already looking to replace the company as a supplier as soon as possible. They are not going to wait to see the final outcome. Some do not expect the company to open on a regular basis but the final outcome for the company is not yet known.

Additionally, U.S. offices in Deerfield Beach, Florida, have been closed and staff there was reportedly terminated. Ian Heunis, former president of the U.S. operation was contacted by Fabrics & Furnishings International but he had no further information other than to say he was personally pursuing new opportunities.



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