The Justice decreed the bankruptcy of Alimentos Refrigerados Sociedad Anónima (ARSA), the dairy company that produced yogurts, custards, and desserts under the SanCor brand. The ruling was issued by Judge Federico Güerri, of the Commercial Court 29, who ordered the final liquidation of the company and the closure of its facilities. Located in the Lincoln district of Buenos Aires Province, the plant employed 180 people, while another 200 worked at the factory and distribution center located in Córdoba. Its logistics network was composed of 165 distributors that reached 70,000 businesses weekly.
The reason for the closure is that the preventive reorganization process failed in April 2024, as no potential buyer willing to take over the company and sustain production emerged. The group Vicentin had managed the company until two and a half years ago and had the participation of funds such as BAF Capital. More recently, it was being managed by the Venezuelan entrepreneurs Manuel and Alfredo Fernández, who also run another dairy company, La Suipachense. At the time of the reorganization filing, ARSA blamed the country's economic situation at the time, with high inflation and price controls in place, as detailed in the report. However, industry insiders maintain that the company's situation was due to poor management over the years. In line with this, the union Asociación de Trabajadores de la Industria Lechera de la República Argentina (Atilra) denounced the breaches. Employees also stated that they were receiving late and irregular salaries, and that in recent months, only a quarter of their wages were paid in cash, despite working full days.
ARSA produced the yogurts, custards, and desserts of the SanCor brand, with the most notable labels being Shimy, Sancorito, Sublime, and Yogs.