Overview
- The company opened the Procedimiento Preventivo de Crisis with Córdoba’s labor ministry on July 2–3, triggering a negotiated 'status quo' that bars unilateral dismissals and gives Metalfor 48 hours to submit an initial action plan and until July 15 to file a detailed payment proposal.
- Official Central Bank records show Metalfor owes about ARS 52,000 million to some 23 banks, with roughly ARS 22,000 million placed in higher-risk categories and more than 500 bounced checks signalling acute cash‑flow problems.
- Metalfor’s industrial activity has collapsed: first‑quarter sales fell from 116 to 56 units year‑on‑year, production dropped from 86 to 38 units, and operating result plunged roughly 92%, leaving plants operating near 50% capacity.
- A previously announced Commitment Letter with the U.S. DFC for up to US$50 million — with early disbursements in late 2025 and the operation closed in early February 2026 — has not restored liquidity or prevented the current crisis.
- About 600 direct employees are temporarily protected by the PPC, but the July 15 deadline will determine whether the firm can restructure bank liabilities, stabilize supplier chains, and avoid layoffs or wider supplier and regional job losses.