The Centro Comercial e Industrial de La Rioja accounted for 243 vacant premises out of 1.861 properties surveyed in the micro and macrocenter of the capital. The proportion is around 13%, above the 5% or 6% that the entity considers usual and the approximately 10% observed during the pandemic. Juan Keulian, head of the organization, clarified that the study was carried out months ago and needs updating.
The return of the Bonos de Cancelación de Deuda, known as Chachos, generates expectations of a temporary improvement. Keulian estimated that around 80% of the establishments will accept the instrument. That proportion corresponds to a business assessment and not to formalized agreements. The greatest response could appear in clothing and footwear, sectors where families have postponed purchases and where closings and liquidations are concentrated.
The critical point is the redemption of bonds in pesos. During the 2024, experience, the crediting could be completed in about 48 hours; the new scheme contemplates terms close to 20 days. For businesses with little capital and daily restocking, such as small butcher shops whose suppliers charge cash, accumulating income not yet converted can limit the purchase of new merchandise.
The entity does not expect a widespread acceptance below the face value and recalled that previously some stores offered discounts for payments with Chachos. However, it admitted that isolated cases could exist and pointed out that the regulatory bodies should intervene in response to complaints. The circulation of the bond can increase sales, but it also introduces a financial difference between backed companies and small establishments.
Vacancy is due to various processes. Keulian mentioned the loss of purchasing power, rents, the relocation of businesses to peripheral neighborhoods, and e-commerce. He estimated that between 20% and 22% of retail purchases from 2025 were made online, although he did not identify the statistical source of that reference. He also criticized parking, sidewalks, and the lack of coordinated management to revitalize the downtown area.
The Chachos could provide movement until December, but they do not by themselves solve the structural deterioration. The next verifiable result will be a new occupancy count and the actual redemption pattern. To evaluate relief, three data points must be distinguished: estimated acceptance, bonds actually received, and sustained sales after converting them. Until then, the 13% functions like a previous photograph that sizes the crisis, not as a measurement taken on the day of publication.
