Overview
- Textilana said it requested a concurso preventivo to restructure more than 2.4 billion pesos in liabilities and keep supplying customers.
- The plant remains in operation after suspending 175 workers with 78% pay and bringing them back on April 1, with production now near 60% of capacity.
- Ámbito reported the court file had not yet been formally entered, which leaves the start of creditor talks and next steps unclear.
- The company blamed a drop in consumer spending and a surge of imported clothing, including from platforms like Temu and Shein, for the cash squeeze.
- FITA data show textile activity fell 23.9% year over year in January and factories ran at about 24% capacity, while unions warn a failed reorganization could ripple through local workshops and suppliers.