Casas Bahia files for judicial recovery after record quarterly loss
Brazilian retail giant Grupo Casas Bahia filed for judicial recovery on Sunday, days after reporting a record quarterly loss. The size of the debt at the center of the case has not been disclosed. The filing marks a major escalation in the retailer's long-running financial troubles.
Brazilian retail giant Grupo Casas Bahia filed a petition for judicial recovery in court on Sunday. The filing came days after the company reported a record quarterly loss, deepening scrutiny of its finances.
The total size of the debt at the center of the case has not been disclosed. The retailer has struggled in recent years with rising e-commerce competition, high interest rates and squeezed consumer spending.
The judicial recovery process allows Casas Bahia to continue operating while it negotiates a restructuring with creditors. The move is being seen as the latest sign of broader financial strain across Brazil's retail sector.
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