The Court Declared the Bankruptcy of Algodonera Avellaneda, a Company Linked to Vicentin
4 Articles
4 Articles
Judge Fabián Lorenzini made the decision after they did not appear interested in taking over the firm, which has about 360 workers and millions of debts; the possibility of maintaining production will be analyzed while the sale of the company is progressing.
The decision was made after the process of saving the textile of the Vincent family failed. Its debt exceeds US$ 260 million
The bankruptcy is with work continuity “to preserve the value of the industrial plants, the jobs and facilitate a possible sale of the operating company or its business units”. Excluding the administrators of the Vincentian Group (disabled and with prohibition of leaving the country without a judicial permit), the driving was left in the hands of the trustees. The civil and commercial judge of Reconquista, Fabián Lorenzini, declared on Wednesday…
The textile linked to Vicentin has 360 workers. After the failure of the rescue, the Justice will evaluate if it can maintain the activity temporarily until its sale.
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