Lemann, Sicupira, and Telles refuse to invest money in Americanas, and the company will default on R$ 20 billion.
Billionaires decided not to recapitalize the company they controlled, which had falsified its financial statements for many years.
247 - Americanas stores are expected to file for bankruptcy protection in the coming days. The value of the accounting inconsistency, approximately R$ 20 billion, represents what the reference shareholders would have to invest in the company to save it, but, according to people who participated in the discussions, they did not accept. They decided to default - the group is formed by billionaires Jorge Paulo Lemann, Beto Sicupira and Marcel Telles. Together, they own 31% of the company.
According to information published this Tuesday (17) by Folha de S.Paulo newspaper, the company's debt amounts to R$19,6 billion. The company has taken out loans to finance the purchase of goods from suppliers in recent years that were not properly accounted for on the balance sheet. As a result, the debt has increased to nearly R$30 billion, company executives said.
Lawyers and company executives assessed that, by negotiating the payment of R$20 billion with creditors, it will be possible to get Americanas back on track.
Through judicial recovery, a judge manages the negotiation of the company's debts with creditors, who prepare and present a plan for the company.
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