Argentina Company 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.

Celulosa’s board explicitly pointed at Milei’s government for its troubles.

“The deep changes that the national government has implemented in fiscal, ...