The announcement was confirmed on Tuesday by Falabella’s Finance Manager, Alejandro González, after a meeting with investors in which he acknowledged a 9.6% drop in income and losses of about US$5 million. The retailer’s new strategy does not include Mallplaza operations.
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The Falabella Group plans to dispose of part of its operating assets of the Open Plaza franchise in Peru and Chile, as well as some distribution centers and stores in stand-alone formats, as part of a move to reduce its debts.
According to a report from the Diario Financiero de Chile, the announcement was confirmed on Tuesday by Falabella’s Finance Manager, Alejandro González, after a meeting with investors in which he acknowledged a 9.6% drop in its income and losses due to about US$5 million.
The executive specified that, in the face of this apparent restrictive wave, Falabella has successfully executed cuts in its expenses and maintains a plan to sell its assets that ranges between US$800 million and US$1,000 million, higher than the US$400 million previously reported.
Falabella’s new sales strategy, which does not include the Mallplaza operations, is framed in a “series of ongoing processes”, which have been subject to the signing of some confidentiality agreements (NDA), with more than promising results.
“This, I would say, is the vast majority of what we are considering here (…) this is not something that should have a high execution risk,” González remarked.
According to local media, Falabella currently maintains a net financial debt to Ebitda indicator of 8.2x. The retailer has mentioned on multiple occasions that it feels “comfortable” with 3x levels.
Written and digital press journalist, graduated from the Federico Villarreal National University (UNFV). Currently, in La República, where he writes about economics, with emphasis on hydrocarbons, mining and social conflict.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
