After a few years of decay, Ricardo Eletro is coming back, but now with a new name and under new management.
The company, which has employed more than 30,000 people and has around 400 stores throughout Brazil, faced a major financial crisis and recently filed for bankruptcy.
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The former Ricardo Eletro began to decline when the group's founder, businessman Ricardo Nunes, was sued in court to pay about BRL 400 million in taxes allegedly evaded.
From that moment on, what was seen was the closure of hundreds of stores and the mass dismissal of employees, as well as at least two bankruptcy filings.
In 2019, Ricardo sold his stake in the company to the private fund Starboard, which began the reformulation of the former Ricardo Eletro.
The fund immediately approved the closure of almost all physical stores, leaving only the company's virtual store.
In addition, in 2020 a request for judicial recovery was given and, last year, the company withdrew the bankruptcy requests that had been made.
After the beginning of the operation to clean up Ricardo Eletro's accounts, the Starboard fund, in the person of Pedro Bianchi, CEO of the new Ricardo Eletro, announced the company's name change and new expansion projects through Brazil.
According to Pedro, the store will now be called Nossa Eletro, to remove the former owner's name once and for all and found a new brand.
With the release of assets and values of the company that had been seized by the Justice, it is estimated that by the end of 2023, 25 stores will be opened throughout Brazil, with the possibility of doubling this number by the end of 2024.
Graduated in History and Human Resources Technology. Passionate about writing, today he lives the dream of acting professionally as a Content Writer for the Web, writing articles in different niches and different formats.
