Brazil's Casas Bahia judicial recovery covers R$17.3bn debt. Top labor court upholds block on layoffs. Tax probe names retailer as beneficiary.
BRAZIL · RETAIL
Key Facts
—What happened: Casas Bahia filed for judicial recovery on 17 August, listing R$17.3 billion in debt.
—How big it is: The debt is owed to about 28,000 creditors, after a reported R$10.1 billion loss.
—What it means: Judicial recovery is Brazil’s version of Chapter 11, shielding the firm from creditors.
Banco do Brasil Casas Bahia exposure is about R$2.9 billion as the retailer enters judicial recovery with R$17.3 billion of debt.
A Brasilia labor judge ordered Casas Bahia to reverse its August mass layoffs within five days, as a Sao Paulo court granted only…
Com R$ 17,3 bi em dívidas, companhia pediu reestruturação na Justiça no dia 16
Varejista pediu recuperação judicial na noite de domingo. Dívidas passam de R$ 17,3 bilhões
Além dos R$ 17,3 bilhões incluídos no processo, varejista terá de negociar débitos com bancos, fundos e fornecedores, além de…
Varejista reclamava de bloqueios que já somavam R$ 9 milhões após pedido de recuperação judicial
