Argentina
In seven months of 2026, nearly the same number of corporate crisis proceedings were opened as in all of 2025
Official data released following a freedom of information request show an acceleration in Preventive Crisis Procedures. According to Perfil, the volume of cases is now just one step away from matching last year’s total.
The Government reported that through July 31, 2026, 163 Preventive Crisis Procedures had been initiated, a figure that practically matches the 164 recorded for all of 2025. According to Perfil, based on a public information request to the Ministry of Human Capital, the number also exceeds the 131 proceedings counted in 2024.
These procedures, which fall under the Secretariat of Labor, are usually activated in corporate emergency situations in an effort to avoid mass layoffs or the closure of firms. According to the official response cited by Perfil, 24 cases ended with a ratified agreement, 42 were still pending, and 19 had been closed or sent to temporary archive. The ministry also clarified that these are dynamic cases, whose status and scope may change over time.
Still according to the data published by Perfil, in the two and a half years of La Libertad Avanza’s administration, the PPCs have accumulated 458 cases. The outlet noted that both 2025 and 2026 were above 2017, when 158 proceedings were recorded, and that this year is on track to approach 2018, which closed with 183. The peak in the series mentioned was 2020, with 498, amid the Covid-19 pandemic crisis.
Perfil also linked this increase to the deterioration in activity across productive sectors. It cited that as of June 2026, INDEC’s EMAE showed a year-on-year improvement of 2.7%, driven by mining, fishing, agriculture and energy, while industry, commerce and construction show weaker performance and monthly declines in their sector indicators.
In that context, the outlet noted that since November 2023, 30,633 companies have been lost, equivalent to 6% of formal employers, according to Fundar. With data from May 2026, it also indicated that 2,371 companies had closed and that there had already been 16 consecutive month-on-month declines and 27 straight year-on-year setbacks.
Pressure is also visible in the payment chain. According to UIA data cited by Perfil, at least 47% of industrial companies had difficulty meeting some financial obligation and 9.2% were unable to cover all of their payments. In turn, Equilibra indicated, according to that publication, that corporate delinquency in the financial system rose from 0.7% in November 2024 to 3.7% in July 2026, while firms in payment default grew from 16,212 to nearly 37,500.
The report added that the impact is greater on SMEs. For loans under $5 million, a segment that covers 60% of those companies, delinquency reaches 9.3%. By activity, Construction, at 7.7%, and Commerce, at 6.5%, lead overall delinquency levels, while in manufacturing the Textiles and leather category is close to 14.6%.
Perfil also reviewed a series of recent cases of closures, suspensions or staff cuts, including those of Will Der, Unilever, Toledo, Granja Tres Arroyos, Tía Maruca, Indumentaria Catamarca and Peabody, as part of a scenario of growing pressure on the productive fabric.
Sources
About this note. Written by El Notero with assistance from artificial intelligence, based on what was published by the cited outlet. El Notero did not conduct its own reporting on this event.
