Garbarino faces uncertain future as debts mount

Garbarino faces uncertain future as debts mount

Corporate & Sovereign Strategy Debt Loans M&A Commerce Retail shopping Coronavirus Economy & Policy Capital Markets Latin America South America Argentina

A year after acquiring Grupo Garbarino, Carlos Rosales is facing mounting debts that are turning away potential buyers or partners from one of Argentina's biggest home appliance retailers, leaving his political connections as perhaps the only option to keep the company afloat, analysts told LatinFinance. Rosales, an insurance executive, acquired the retailer in June last year from the Garbarino family, agreeing to take on the company's ARS12 billion (then $173 million) in debt with banks, includ

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial