LatinNews Daily - 21 March 2023

In brief: Brazilian retailer Americanas reportedly presents recovery plan

* The Brazilian retail giant Americanas, which filed for bankruptcy in January, has presented a Rio de Janeiro court with the first draft of its judicial recovery plan, according to national daily O Globo. With over 9,000 creditors and debts totalling R$42.48bn (US$8.11bn), Americanas’ collapse sent ripples through Brazilian financial institutions. In early March Americanas’ main shareholders offered the company’s creditors a capital injection of R$10bn; according to O Globo, the company is now also proposing to sell assets including fruit and vegetable retailer Hortifruti/Natural da Terra and the retail group. Americanas reportedly expects to then use up to R$2bn from these asset sales to reduce its debt, the terms of which it is seeking to restructure.

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.