Jutex SRL enters bankruptcy with $635 million in debt

Jutex SRL, a manufacturer for major brands including Portsaid, Rapsodia, Jazmín Chebar, La Martina, and Desiderata, has entered a preventive bankruptcy process (concurso preventivo) with declared liabilities exceeding $635.45 million.

The company, which operates as a third-party manufacturer rather than selling directly to the public, halted operations at its Munro facility due to a lack of necessary provincial permits for its technological machinery. This production stoppage led to delivery delays and a significant drop in revenue. The financial collapse is compounded by unpaid rent, bank loans, taxes, and debts to suppliers and employees.

The situation reflects a broader crisis in the Argentine textile industry. According to data from the Fundación Pro Tejer, textile production fell 24.4% year-on-year during the first half of 2026, with factories operating at only 39% capacity. Additionally, clothing imports rose 62% in volume during the same period, placing further pressure on local manufacturers.