These are the UMA and Vitamina clothing brands, from the Navilli family, which has Molino Cañuelas under its umbrella, the firm that is in bankruptcy proceedings.
Clothing sales fail to recover.
Since last year, women’s clothing brands UMA and Vitamina are with a sale sign. More specifically, sIts owners, the Navilli family, led by Aldo, also head of the giant Molino Cañuelas -the main wheat processor in Argentina and which has been in a call for creditors since 2021- They seek to divest their fashion-related assetsbut for the moment they did not find a buyer and in parallel they are advancing with a restructuring plan that includes the closure of stores.
Given reports that indicated that both brands would close their doors by the end of the year, The company indicated that although it is true that they have been on sale since 2023, “it is not planned to close at the end of the year.” The truth is that in the sector there is speculation at this time with the possibility that the company will not move forward with the launch of the autumn season – I invest 2025.
Another reality is that the firm, which has 12 stores in the main shopping malls in the country, closed three in recent months. These sensitive changes may also be associated with a change in its structure and this is explained by company sources: “Due to a business decision, the brands are for sale or in a process of changing their business model based on a category licensing scheme, such as jeans and perfumes.
For their part, sources from the sector indicate that The current situation complicates the company’s sales plansin a context in which the demand for clothing is in free fall and even more so considering that these two brands are aimed at high-income segments. The economic situation of other groups related to fashion is not the best either and that is why The Navilli family has been exploring different possibilities for around eight months.
Of course, the Navilli family’s relationship with these brands is cited as one of the reasons for the need to sell assets. Regina, daughter of Aldo, is the one who leads the clothing firms, but the company seeks to separate itself from the bankruptcy proceedings and the complex situation of Molinos Cañuelas and that is why they emphasize: “beyond the fact that the companies belong to one of the shareholders of Molino Cañuelas, they do not belong to the business group.”
Molino Cañuelas formally entered bankruptcy in 2021 with debts of more than US$1.3 billion, The company that continues to operate today and is consolidated as the main wheat processor in Argentina, carried out a strong expansion process, with the purchase of assets, and that ended up being its sword of Damocles because it added million-dollar debts.
What follows from now on for UMA and Vitamina is still an unknown because a lot depends on whether a buyer appears and if the current owners decide to deepen their restructuring plan.
Source: Ambito
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