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Americanas closed 27 stores since filing for bankruptcy in Brazil

Americanas closed 27 stores since filing for bankruptcy in Brazil

Americanas, the Brazilian retail giant, has closed 27 of its stores as part of the restructuring process it has launched since it filed for bankruptcy last January, the company reported Wednesday.

The number represents 1.4% of the total Americanas physical establishments, which stood at 1,882 in December 2022, according to the group’s figures.

Between January and February it closed 19 stores and only in March there were eight.

The data appears in a monthly activity report sent to the Brazilian court in charge of supervising the bankruptcy, requested by the firm after finding an accounting hole of about 20 billion reais (US$ 4 billion at today’s exchange rate).

The closure of these stores has slightly impacted the company’s active customer base, from the 49.1 million with which it closed 2022 to the 46.3 million reported last March.

Americanas filed a judicial recovery petition with the Rio de Janeiro Court, with debts worth more than 40 billion reais (US$7.9 billion) and a list of creditors with nearly 8,000 names.

Since then, the market value of Americanas has plummeted on the Sao Paulo stock market, with negative impacts on the price of sectors such as banking, both public and private, which are among its main creditors.

Source: EFE

Source: Gestion

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