Debt Crisis at Lácteos Verónica: Potential Rescue from French Investor
Sourse: dairynews.today
Lácteos Verónica, a major Argentine dairy company, faces a financial crisis with growing salary debt, while a potential acquisition by French firm Savencia offers a ray of hope.
The financial situation of Lácteos Verónica, a well-known name in the Argentine dairy industry, has become critical. The company is grappling with a growing debt, particularly in paying employee salaries. This issue has pushed the company to the brink of bankruptcy, necessitating a Procedimiento Preventivo de Crisis, which could result in the unfortunate loss of up to 200 jobs. Currently, Lácteos Verónica processes only a minimal amount of milk through an agreement with a third party, resulting in insufficient income. Additionally, debts to workers include back payments and contributions to their health funds, intensifying the employees' hardships and creating an atmosphere of uncertainty.
Workers have responded with protests to pressure the company, including credit withholding and reduced work hours, highlighting their precarious situation amidst a financial meltdown they did not cause. Amid this bleak scenario, hope arises from the French company Savencia, a global giant with a significant presence in Argentina through renowned brands, which has shown interest in acquiring Lácteos Verónica's plants. This acquisition could offer the restructuring opportunity urgently needed by the company, potentially resolving debt issues, restoring employee stability, and reviving its market position. The potential acquisition by Savencia represents a pivotal turnaround. With international backing, Lácteos Verónica could solve its debt problems, assure employee stability, and regain market stature. Rescuing a company of this magnitude would not only benefit its workers but also stabilize the Argentine dairy production sector as a whole, preventing a bankruptcy that could trigger a domino effect.
Workers have responded with protests to pressure the company, including credit withholding and reduced work hours, highlighting their precarious situation amidst a financial meltdown they did not cause. Amid this bleak scenario, hope arises from the French company Savencia, a global giant with a significant presence in Argentina through renowned brands, which has shown interest in acquiring Lácteos Verónica's plants. This acquisition could offer the restructuring opportunity urgently needed by the company, potentially resolving debt issues, restoring employee stability, and reviving its market position. The potential acquisition by Savencia represents a pivotal turnaround. With international backing, Lácteos Verónica could solve its debt problems, assure employee stability, and regain market stature. Rescuing a company of this magnitude would not only benefit its workers but also stabilize the Argentine dairy production sector as a whole, preventing a bankruptcy that could trigger a domino effect.
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