Linor SRL, major Argentine sawmill, declares bankruptcy

The judiciary has decreed the bankruptcy of Linor SRL, a major sawmill located in Azara, Misiones, and one of the largest producers of wooden pallets in Argentina. The company, which had been in operation for 27 years, previously employed up to 300 people.

Judge Adriana Fiori of the Eighth Civil and Commercial Court of First Instance in Posadas ruled on the bankruptcy following the company's failure to comply with an extrajudicial agreement established during its preventive reorganization process. As a result, the court will seize assets, machinery, vehicles, and freeze bank accounts. Approximately 130 employees are currently awaiting unpaid wages and potential severance payments.

Industry representatives from APICOFOM and Amayadap state that the forestry sector is facing one of its worst crises in history. Contributing factors include declining consumption in the construction sector, high logistics costs affecting exports, and a stagnant exchange rate amidst ongoing inflation.