Last Thursday, the 19th, the Americans SA formalized a request for judicial recovery. The company's finances will have a period of 60 days, which is guaranteed by law, for the financial recovery plan to begin. In all, the holding has only R$ 250 million available.
The company will have these two months to be able to put together a strategy to recover.
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In cash, the holding company has around BRL 880 million at the moment, but BRL 550 million has been blocked, so there is only BRL 250 million available. And even though part of the money had not been blocked, the debt has 16,300 creditors. In addition, there are R$ 43 billion that need to be paid.
Upon receiving the announcement of the billionaire gap, the company withdrew as a sponsor of BBB 2023 and most likely will not continue investing in the program due to the current situation. The biggest problem, in addition to paying so many creditors, is its recovery in the market after a possible stabilization.
The company's competitors will be on their way to success while Americanas will be stuck in intense attempts to resume. Judicial recovery was expected, as the retailer filed an urgent precautionary measure on the penultimate Friday, the 13th, to be free from collection by its creditors for a while.
Yes, the process is not necessarily to declare bankruptcy, as it is similar to a time to "breathe" still in the midst of debts. When filing the recovery, the company has 180 days guaranteed by law not to be charged for what it owes. In theory, this would be the time needed to organize finances and try to deal with outstanding issues.
To do so, the more than 16,000 creditors must agree with Americanas' position. All or at least 50% of them. If the company manages to get the document approved by more than 8,000 creditors, the other companies that were against the position will still need to agree to the recovery.
Bankruptcy will only happen if Americanas fails to reach at least 50% of these creditors, which would make it difficult for the management team to negotiate all these debts.
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