Granja Tres Arroyos files for bankruptcy protection

Granja Tres Arroyos, the primary entity of the GTA Group, has filed for bankruptcy protection (concurso preventivo) in Argentina. The holding company faces an estimated debt of USD 351 million and significant financial instability, including thousands of rejected checks and substantial bank debt.

The crisis has led to the paralysis of several production plants, including facilities in Pilar, Capitán Sarmiento, and Esteban Echeverría. The La China plant in Concepción del Uruguay has already ceased operations. This downturn has had a severe impact on employment, with approximately 1,200 workers facing layoffs across various locations.

Attempts to negotiate with creditors failed after proposals involving debt reductions of up to 75% and seven-year repayment terms were rejected. The GTA Group, which once operated eight plants across Argentina and Uruguay, accounts for more than 20% of the national poultry production.