BANKRUPTCY: "Antonio Merloni" of Fabriano Italy

Appliance maker Antonio Merloni of Fabriano, Italy is said to be near to declaring the Italian equivalent of Chapter 11, as reported in the Australia Current.  Antonio Merloni was laid low by a combination of:

• cheap Asian imports
• a generalized economic slowdown in Europe
• malicious Italian employee protection laws

Antonio Merloni is not to be confused with his brother's company Merloni Elettrodomestici which is the builder of the Indesit and Ariston brands, and is also located in Fabriano.  The relationship between the brothers is such that Christmas is "awkward".  Antonio Merloni also owns Swedish appliance maker, ASKO.  Sources with knowledge of the players indicate that ASKO is a self-contained independently run business entity which had been having a great sales year, up to the recent slow down.  The source did not expect ASKO to be significantly effected by the parent's problems.