Argentine cotton firm Avellaneda Cotton bankrupt, owes $260M to Banco Nación

Avellaneda Cotton, a major Argentine textile company linked to the Vicentin family, has entered bankruptcy after failing to restructure $260 million in debt with Banco Nación. The company, employing 350 workers in Reconquista, Santa Fe, had been in receivership since 2024 but no rescue offers emerged. This signals continued stress in Argentina's agricultural-industrial sector and potential fallout for regional employment and state bank exposure.