After the Americanas debacle in Brazil, it’s the turn of retailer Tok & Stok
After Americanas and Marisa stores revealed debts and financial difficulties, Tok & Stok – a furniture and home furnishings retailer- is seeking a restructuring process.
The information was published this Thursday (16) by Valor Econômico newspaper.
According to the report, the company hired Alvarez & Marsal, a specialized restructuring firm, to help it seek a solution to its indebtedness and negotiate with creditors.
According to the newspaper, there was a misreading of the company during the pandemic, which grew a lot in 2020.
However, the same growth was not observed in 2021 and 2022.
Besides this, Americanas’ crisis made banks less flexible when negotiating new conditions for the maturities, which squeezed the company at the beginning of the year.
A few months ago, the retailer hired the consulting firm Heartman House to help with the operation.
One of the solutions studied may involve a capital injection of around US$50 million, which the partners themselves could theoretically do.
With this, the company joins a list of companies in the retail sector that, at the beginning of the year, had to seek help from restructuring firms and specialized lawyers to find a solution to their debts.
With information form Revista Oeste
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