By  on March 6, 2014

MILAN — Like the proverbial phoenix, Ballantyne is rising from its ashes.

After owner Charme Investments Ltd. set in motion a number of radical measures, including a voluntary liquidation of the original Ballantyne company it had acquired in 2004, the storied cashmere brand is starting with a clean slate. According to a source close to Ballantyne, unhappy with management and a dismal financial performance, Charme in the fall protected the brand, legally called Ballantyne Cashmere SpA, by moving its assets into a new company, naming it Alpha Srl.

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