Argentine Pulp Maker Blames Milei as It Seeks Bankruptcy Protection

Pulp and paper manufacturer Celulosa Argentina SA filed for bankruptcy protection Monday, blaming the government of President Javier Milei for creating a bad business environment for local industry.

After missing bond payments, Celulosa, based in agricultural export hub Rosario, is now seeking protection from creditors in Argentina’s equivalent of a Chapter 11 process, according to an investor filing. Its locally traded shares slumped by as much as 17% on Monday and are down nearly 80% so far this year.