Brazil's Americanas files motion to exit bankruptcy protection proceedings
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People walk in front of a Lojas Americanas store in Brasilia, Brazil January 12, 2023. REUTERS/Ueslei Marcelino
SAO PAULO, March 25 (Reuters) - Brazilian retailer Americanas said on Wednesday it filed a motion in a Rio de Janeiro court to exit bankruptcy protection proceedings, as the company claims it fulfilled all previously established obligations.
Americanas, which entered bankruptcy protection in January 2023 after disclosing about $4 billion in accounting inconsistencies, said in a securities filing it will follow through with measures to conclude the proceedings.
A nearly-century-old company with stores all over Brazil and online, Americanas had said at the beginning of the proceedings that it aimed to restructure about 43 billion reais ($8.23 billion) in debts.
Since then, the firm has divested from assets and closed stores throughout the country. Last year, it shuttered more than 170 storefronts.
Americanas on Wednesday did not provide further details on the requirements it fulfilled to exit the proceedings.
($1 = 5.2257 reais)
(Reporting by Andre Romani; Editing by Kylie Madry)
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