The closure of dairy plants managed by Venezuelan company Maralac S.A has left 520 workers unemployed following a judicial bankruptcy declaration.
In Córdoba, the dairy plants operated by Venezuelan-owned Maralac S.A have permanently closed, resulting in approximately 520 employees losing their jobs. The closures involve two facilities, one in Lincoln and another in Monte Cristo, which were part of the company Alimentos Refrigerados Sociedad Anónima (ARSA) and La Suipachense. The bankruptcy was officially declared three months prior and concluded with judicial confirmation of the closure.
ARSA's facilities produced popular dairy products linked to well-known brand SanCor, including SanCor Yogs, SanCor Vida, and others. The decision to close was finalized by Judge Federico Güerri from the Commercial Court after a failed bankruptcy preventive process. This development underscores the significant challenges faced by Venezuelan-owned businesses in Argentina, particularly those linked to the precarious dairy industry, which is experiencing severe financial difficulties.
The implications of this closure extend beyond the immediate loss of jobs, as it reflects broader economic instability and the struggles of foreign-owned companies in Argentina's challenging market conditions. The affected workers and the local communities may face long-term repercussions as the region deals with the economic fallout from these significant job losses.
