Algodonera Avellaneda faces bankruptcy as no buyers emerge

An Argentine court confirmed that no offers were submitted to acquire Algodonera Avellaneda, a textile company linked to the Vicentin family, after it failed to reach a creditors' agreement. The company employs about 360 people and now faces liquidation. This marks a significant corporate failure in Argentina's textile sector, with implications for local employment and the broader economic environment.