Americanas’ judicial recovery request comes out in the “next days or in the next few hours”

The Americanas retailer reported this Friday (19), in a material fact, that its request for judicial recovery must be made “in the next few days or in the next few hours”.

The company complains about the attitude of the BTG Pactual bank, which this Wednesday (18) obtained a court injunction to block R$ 1.2 billion in the company’s account with the financial institution.

As a result, says Americanas, the company has only R$800 million in cash.

Read the material fact in full, signed by the company’s interim president, João Guerra:

Americanas SA, in compliance with the provisions of CVM Resolution No. 44, of August 23, 2021, hereby informs its shareholders and the market in general that, on yesterday’s date, the Special Body of the Court of Justice of Rio de Janeiro, in a monocratic decision in a writ of mandamus filed by Banco BTG against a decision handed down by the Fifteenth Civil Chamber of the Rio de Janeiro Court of Justice, which, among other matters, granted the Company the right to recover amounts offset by creditors under the terms of the precautionary decision handed down by the judgment of the 4th Business Court of the Court of Justice of Rio de Janeiro.

The decision of the Special Body also determines the blocking of the value of about BRL 1.2 billion in a Banco BTG account until the Writ of Mandamus is considered. Additionally, on the present date, the cash position available to the Company for its activities reached the value of R$ 800 million, and a significant portion of this amount was unjustifiably unavailable for handling by the Company on yesterday’s date.

As a result, although it has not yet been decided, management is working with the possibility of, in the next few days or potentially in the next few hours, approving the filing, on an urgent basis, a request for judicial recovery, pursuant to Law No. 11,101/05 and art. 122, sole paragraph, of Law No. 6,404/76.

Americanas is a century-old retailer that provides a broad service to the population and has a strong social commitment to bring affordable products to its 53 million customers. THE company will appeal the decision, which hurts its efforts in the search for a short-term solution term with its creditors, to maintain its commitment as a generator of thousands of direct and indirect jobs, broad social impact, source of production and activity stimulus economy, in addition to being a relevant tax payer.

The Company will keep its shareholders and the market in general updated on matters object of this Material Fact.