SanCor Holds Extraordinary Assembly: Decisions and Future Prospects

In a move to confront its current economic challenges, SanCor Cooperativas Unidas Ltda. recently conducted an extraordinary assembly. The cooperative, a significant player in Argentina's dairy industry, announced that its members unanimously approved the decision to file for preventive bankruptcy. This decision marks a significant step as the company seeks to stabilize its finances.

On Thursday, February 20, a critical assembly was convened where SanCor's management proposed entering preventive bankruptcy proceedings. The members gave their unanimous consent to this measure, aimed at protecting the cooperative's interests and ensuring its sustainability.

The official communication outlined that the decision was taken in accordance with Article 6 of Law 24.522, which governs the procedural aspects of bankruptcy and insolvency in Argentina. This move will enable SanCor to restructure its debts and continue its operations amid challenging economic circumstances.

This decision emerges amidst ongoing discussions about SanCor's financial stability. Previously hailed as a beacon of Argentina's dairy industry, the cooperative has faced significant hurdles due to various economic pressures. The assembly's outcome is pivotal not only for SanCor but also for the broader dairy industry in the region. It signals the cooperative's commitment to navigating its fiscal challenges and finding a sustainable path forward.