One of the main agro -industrial groups in Argentina has liabilities for more than US $200 million. Agricultural producers, suppliers and banks, affected.
The times accelerated and finally the Group the Grobo requested before the commercial justice the opening of the preventive contest of creditors for their two companies, the agricultural and agrofine grrobo. With a liabilities greater than US $200 million, the firm entered default the last week of December and from that moment on, an escalation of rejected checks followed, which today exceeds $ 3.7 billion.
Meanwhile, the company’s financial crisis was aggravated by not reaching agreements with its creditors, among which are important banking entities such as Banco Galicia, Santander, HSBC, Bapro, Supervielle, Mortgage, macro and industrial. These breaches include payments for almost $ 30 million. The truth is that this default directly affects a large part of the agricultural commercial chain because there are hundreds of producers who gave it grains, with the price to be fixed, the agroindustrial giant and today they would directly enter this creditors contest, as happened with Vicentin in 2019.
The group today is commanded by the Victoria Capital Partners Investment Fund, who has 90% of the share capital, while Gustavo Grobocopatel and his sister Matilde retain the remaining 10%. Some voices in the sector claimed that the company would not enter into a bankrupt Today hundreds of producers, banking entities and suppliers are being affected by the Millionaire Default.
At the moment, The agricultural grrobo It has an integrated structure that includes 34 branches, 27 input deposits and 16 grain collection and processing plants, with a storage capacity of more than 350,000 tons. The company operates in the provinces of Buenos Aires, La Pampa, Córdoba, Santa Fe and Entre Ríos, using more than 500 people. During the last year, he collected more than 2 million tons of grains and sowed 218,000 hectares in alliance with 40 producing partners.
For its part, Agrofina is focused on the development, production and marketing of agroinsumos mainly those related to crop protection, such as herbicides, insecticides and fungicides.
Finally, from the request for the opening of the creditors contest from the firm, they detailed: “Companies will continue operational and working on a comprehensive solution that orders the business situation and their financial capacity. We will prioritize our commitment to producers, suppliers, collaborators and customers and we will continue to operate until the resolution of this contest. “
Source: Ambito
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