A large group of Vicenza workers presented a letter to the civil and commercial judge of Reconquista, Santa Fe, Fabián Lorenzini, asking him to approve the bankruptcy arrangement of the defaulting agro-exporting company.
The employees considered that the payment proposal made by the agro-export company to more than a thousand creditors, for a debt of 1.35 billion dollars, is the best alternative to safeguard their jobs and ensure a stable future of work.
In the letter they delivered to the court, and then made public, the workers stated that the delay in the approval, or even the possibility that it will not be achieved, would represent an imminent threat to the employees of the Northern and Southern nodes of the company ., as well as for the municipality of Avellaneda in the province of Santa Fe.
Workers fear that if they are not attractive to the big three companies involved in the process as Strategic Stakeholders, neither would they be attractive to other failed proposals that may arise.
Therefore, they believe that the alternative presented by Vicentin is the most beneficial both for themselves and for their families, employees and the community in general, which would suffer in the event of the closure of the complex.
Taking the Buyatti SAIC company as a fitting example, which “has been working with fazone on behalf of third parties for more than 15 years”, Vicentin employees see this option as a valid alternative to ensure their long-term business continuity.
In the note they acknowledged that the company is facing difficulties due to the drought and the macroeconomic context, which jeopardizes the continuity of jobs offered to third parties and, consequently, jeopardizes the possibility of not having a paycheck.
All in all, they understand that the approval of the bankruptcy arrangement would ensure job security for the vast majority of Avellaneda workers for at least 18 months, as their income would be guaranteed by the three bidding companies and the Vicentino Avellaneda complex.
In addition, this time would allow the complex to look for new opportunities and, if necessary, make full compensation to those employees who need to be made redundant.
They underlined that the Avellanedense community is carefully observing this bankruptcy process, aware of its direct impact on the local economy and on the well-being of its inhabitants. The fate of Vicentin and his workers has become a topic of debate and concern for all who understand the importance of maintaining stable sources of employment and the sustainable development of the region.
The resolution of this bankruptcy process will determine not only the future of the company and its employees, but also the economic and social direction of Avellaneda, they remarked.
The expectation of Vicenza workers and the community in general is “that a fair and favorable solution be found that safeguards jobs and ensures the region’s long-term growth”.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.