An accumulation of challenges has destroyed the company; tightness on the labor market, raw material prices have skyrocketed and wage costs are through the roof. Earlier this year, the textile company appeared to have navigated these obstacles successfully. However, the recently declared bankruptcy tells a different story, marking the collapse of Belgium's oldest weaving company. Founded in 1848 in Sleidinge near Evergem, Calcutta Home Fashion Group's downfall signals the end of a long-standing legacy in the weaving industry. 
Five years ago, Calcutta was already heading in the wrong direction. The company was rescued by Christof Vermeersch, who acquired the shares from a British-Emirate company. To accelerate further international expansion and facilitate acquisitions, Saffelberg Investments, the private equity fund of entrepreneur Jos Sluys, joined the Calcutta Group in April 2022.
Over the next few years, several acquisitions were made to create economies of scale. Within about five years, the four factories—Calcutta, Annabel Textiles/Interspinning, House of Novalin, and AG TEX—merged to form the Calcutta & Annabel Home Fashion Group. Mublo, a Belgian interior and lifestyle brand known for high-quality upholstery, also became part of the group.
More information:
Calcutta Home Fashion Group
www.calcutta-interiors.com