AY Not Dead clothing brand participated in a prevention contest

The drop in sales, combined with rising production costs, is now leading to the creation of many textile companies practically bankrupt.

In recent months, companies such as Chocolate, Eyelit, Alpargatas, Wrangler, Legacy, Wanama and Cook, among others, have been victims of the crisis. Some of them went bankrupt and others, as is the case of Chocolate, closed the transaction in full.

In the particular case of AY Not Dead, which has 14 stores in the main shopping centers of Argentina, it indicates at least alarming figures and explains why it is now bankrupt. According to the BCRA's records, BCRA's bank debt amounted to just over $ 48.6 million, of which 78% was in situation 4 (high risk of insolvency). Of this total, Banco Nación is its main creditor, with 46% of your debt

At the same time, 99 checks were rejected in the last six months, for a total amount slightly above $ 12.4 million.

Official documents also indicate that to date, they have more than 100 registered employees to whom, since October of last year, social security contributions have not been paid.

Finished when the brand came to export to the United States, Uruguay, Brazil and Chile; As ordered commercial justice, the first days of July will be the first hearing to evaluate the accounts of the company. Until April 24, creditors have time to make the corresponding presentations to participate in the contest.

For now, according to the detail of the sector, the company will seek to further reduce its structure, with the closure of premises, to survive in the midst of this crisis of consumption that now seems to be #################################################################### Far from the end.