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Article: Natale calls it quits.
- Article from:
- Furniture-Today
- Article date:
- September 11, 2006
- Author:
CopyrightCOPYRIGHT 2006 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Joan Gunin
Leather source to file for bankruptcy
High Point- Italian leather upholstery manufacturer Natale has closed its operations in the United States and Italy and will file for bankruptcy "in the next few weeks," according to Gabriele Natale, CEO of its U.S. division.
"We had to shut down operations because of the downturn in business," Natale said in an interview last week.
The shutdown affects both Natale, operated by Gabriele Natale in the United States and owned by investors from the United Kingdom, and its Italian parent MAB Ltd., owned and operated by his mother, Rosangela Natale, in Italy.
At its peak in 2002, ...