The textile company Fantome Group has entered into a preventive reorganization to restructure its debt and continue operating, affected by falling sales and a flood of imports that creates «diabolical competition».
The manufacturer of brands such as Reebok, Cheeky, Kappa, and Kevingston stated in its judicial filing that «the preventive reorganization is the only way to preserve the activity and guarantee an orderly restructuring».
The textile company obtained the opening of the reorganization at the beginning of March, amidst a complex financial front, marked by 33 rejected checks due to a lack of funds to pay $44,978,000, as shown by official records of the Central Bank.
The company, which has operated since 2018 in the Buenos Aires neighborhood of Villa Devoto, employed up to 120 workers at its peak, dedicating itself to the design and distribution of clothing from leading brands.
The business began to be affected in 2020 when Kevingston replaced local manufacturing with imports. However, in 2025 the contract ended and the decline deepened.
In its judicial filing, Fantome Group associated its own debacle with the textile crisis of the national industry, which faces «diabolical competition» from imports, leading to «many actors selling below their costs with the sole purpose of staying in the market».
At the same time, the company alluded to other factors that condition its operation and profitability, such as the constant increase in costs for supplies, energy, and wages, high tax pressure, and the lack of policies to prevent dumping.
In this context, it stated that «a small company cannot support that increase in rates or the demand to cancel credit lines under these conditions».
Mid-last year, Justice imposed two seizures for more than $130 million on the company's bank accounts, which could not be covered and led to the cessation of payments.
In an effort to stay afloat, Fantome Group initiated a reconversion plan that included launching its own brand, opening a retail store in Belgrano, and creating an embroidery and printing unit, which is currently the main source of income.
The new business model is not enough to compensate for the loss of wholesale income, which is reflected in the low level of employees it maintains, with only 20 active workers.
In the judicial document, the firm explained that «being the client who represented almost the entire workflow, their departure meant a structural break». Other brands followed the same path, but the company's activity survived thanks to the contractual agreement with Distrinando S.A., the local licensee for Kappa and Reebok, for the supply of sports clothing and equipment to clubs.
