Overview
- The court declared Algodonera Avellaneda bankrupt on Wednesday, October 14, 2026, after the company failed to reach a creditor agreement and no rescuers registered before the deadline.
- Verified financial debts exceed US$260 million and post‑filing obligations are estimated above ARS 6,000 million, creating a complex mix of foreign‑currency and peso liabilities for any buyer.
- Banco Nación holds more than 80% of the computable debt because of guarantees Algodonera Avellaneda granted to Grupo Vicentin, and that concentrated voting power blocked approval of a payment plan.
- Judge Fabián Lorenzini said he could not extend the pre‑bankruptcy process under the law and ordered seizure of assets while instructing the trustee to study temporary production to preserve asset value and roughly 360 local jobs.
- The court has moved the company toward an organized sale as a running business where possible, a step meant to secure higher recoveries than selling assets piecemeal and to limit immediate layoffs.