Palletizate files for bankruptcy amid $2.4 billion debt

Palletizate, a family-owned industrial company based in the Gualeguaychú Industrial Park, has filed for preventive bankruptcy (concurso preventivo) due to debts totaling approximately $2,443,251,075. The company, founded in 2007 by Oscar Portela and his sons Mauro and Vladimir, specializes in the recovery, manufacture, and sale of wooden pallets, as well as industrial solid waste management services.

Representatives attributed the financial crisis to a confluence of macroeconomic factors, specifically high inflation, rising operating costs, and a significant drop in domestic demand. While the company reached a production peak of 75,000 pallets per month in 2023, recent market contractions in the industrial sector have severely impacted operations.

The legal filing involves 80 creditors and 33 employees. Notably, the company had previously received provincial support through the Regime of Incentive for New Investments (RINI) following visits from local government officials.