Overview
- The maker of Electra and Fedders requested direct bankruptcy, declaring an irreversible, generalized cessation of payments and the definitive failure of its rescue plan.
- About 140 employees have occupied the Río Grande facility under UOM protection after going unpaid since December, with demonstrations called locally this week.
- On February 19 the court rejected a proposed court‑controlled continuity plan that aimed to finish 4,000 imported kits to cover wages and urgent debts.
- Talks with China's Chigo Group for a sale or capital injection of at least US$5 million stalled, and the company said financing costs of 25–30% outstripped 10–15% sector margins.
- In its filing the firm offered its Tierra del Fuego plant, valued by Banco Nación at over US$15 million, plus 4,000 kits worth roughly US$2 million when completed, as provincial leaders link the collapse to weak consumption and looser import barriers.