Beer Market, a popular beverage retailer in Buenos Aires, has abruptly ceased operations, leaving 300 employees without jobs. The closure comes just three months shy of the company’s 10-year anniversary and highlights the growing economic challenges facing businesses in Argentina.
The company, founded in November 2015 by Leandro Sangiacomo, Juan Ignacio Albistur, and Ariel Krug, notified employees of the shutdown via WhatsApp, instructing them not to report to work. A subsequent meeting confirmed the permanent closure, according to reports. The owners have initiated a preventative crisis process, aiming to pay out only 50% of owed severance packages.
Beer Market quickly became a leading retailer and delivery service for alcoholic beverages in the AMBA region (Autonomous City of Buenos Aires and its surrounding metropolitan area). The company, inspired by American liquor stores, offered a wide variety of products, competitive pricing, and same-day delivery. It operated nearly 20 locations in Buenos Aires and the northern suburbs, as well as an online store.
In recent months, the company had begun closing underperforming stores, citing declining sales and high rental costs. The website now displays a message stating the store is undergoing renovations. However, financial records paint a more dire picture. According to official records from the Central Bank, Beer Market accumulated over $300 million in rejected checks and holds a debt exceeding $1.9 million.
The founders initially gained experience organizing beer festivals, like the Baires Beer Festival, before launching the retail venture. They aimed to create a unique shopping experience, offering a broader selection and different atmosphere than traditional wine shops. The business expanded rapidly, reaching 20 locations and two distribution centers across the city and surrounding areas.
Sangiacomo stepped down from his role as leader of the company in 2025, with Ariel Krug assuming the position of director. This change in leadership occurred amid growing operational and financial strain. The company’s struggles coincided with a broader downturn in consumer spending, particularly in the beverage sector, and rising commercial rental rates.
The closure of Beer Market also reflects shifting consumer trends, particularly among younger generations. Analysts note a growing emphasis on health and wellness, with a decline in traditional social drinking habits. This generational shift, coupled with increased digital socialization, is impacting alcohol consumption worldwide.
According to recent studies from universities in the United States, younger generations, like Gen Z, are prioritizing physical and mental well-being, leading to a decrease in alcohol consumption. This trend is further fueled by increased physical activity and a growing demand for wellness-related products and services.
In the last year, the beverage segment has not been immune to the overall decline in consumer spending. The company’s final days were marked by store closures and a growing sense of financial instability.
