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4 clusters · 21 sources · 19 days · First seen · Last updated

Lácteos Verónica bankruptcy and financial crisis

Overview

Lácteos Verónica, a major dairy company in Santa Fe, Argentina, has filed for bankruptcy protection (concurso preventivo) to manage approximately $15.945 billion pesos in debt. This liability includes $4.745 billion in bank obligations and more than $11.2 billion in rejected checks.

The financial crisis has caused a near-total production halt at the company’s plants in Clason, Lehmann, and Suardi. This paralysis has left approximately 700 workers facing unpaid wages and job insecurity. Furthermore, the crisis has impacted the supply chain, with roughly 150 dairy producers claiming unpaid debts estimated at around US$60 million.

Recent developments show a partial resumption of activity at the Suardi plant through a contract manufacturing agreement with the Córdoba-based cooperative Copalac. However, the company’s instability has led to a significant reduction in staff, with the workforce dropping from nearly 700 to just over 300 employees.

In an attempt to avoid permanent closure, Lácteos Verónica signed an agreement on July 2 to sell its Clason and Suardi industrial plants for a total of US$ 15.5 million. The deal allocates US$ 9 million for the Clason plant and US$ 6.5 million for the Suardi plant. Because the company is in a preventive reorganization process, the transaction requires authorization from a commercial court to finalize the transfer of assets. Meanwhile, the debt owed to dairy producers has risen to an estimated US$ 70 million.

Entities

Lácteos Verónica · Copalac · Santa Fe · Alimentos Refrigerados SA · Buenos Aires

Timeline

  1. 3 days ago

    [BUSINESS] 3 sources
    Lácteos Verónica agrees to sell two plants for US$ 15.5 million

    Lácteos Verónica has agreed to sell its Clason and Suardi plants for US$ 15.5 million to avoid closure amid a deep financial crisis in Argentina.

  2. 17 days ago

    [BUSINESS] 2 sources
    Verónica dairy plant resumes partial production in Suardi

    The Verónica dairy plant in Suardi, Argentina, has partially resumed milk powder production via an agreement with Copalac, though hundreds of workers still face unpaid wages and job uncertainty.

  3. 19 days ago

    [BUSINESS] 4 sources
    Lácteos Verónica files for bankruptcy protection amid massive debt

    Lácteos Verónica has filed for bankruptcy protection in Argentina, citing $15.945 billion in debt and production halts at its Santa Fe plants, affecting 700 workers and numerous dairy producers.

  4. 21 days ago

    [BUSINESS] 12 sources
    Lácteos Verónica files for bankruptcy protection amid $15.9 billion peso debt

    Lácteos Verónica has filed for bankruptcy protection in Argentina, citing $15.9 billion pesos in debt, thousands of rejected checks, and unpaid wages affecting workers and dairy producers.

Sources

bichosdecampo.com · cadenaoh.com.ar · ceresciudad.com · cfin.com.ar · comercioyjusticia.info · diariocuartopoder.com · diarioelpaso.com · el-periodico.com.ar · elintransigente.com · elmonterizo.com · hoydia.com.ar · labandadiario.com.ar · lapioneradeclorinda.com · lavozdesanjusto.com.ar · mediosrioja.com.ar · mendozatoday.com.ar · meridianodigital.com.ar · noticiasargentinas.com · politicadelsur.com · sinmordaza.com · test.com

This summary has been updated 2 times: see revision history