Americanas’ judicial reorganization plan foresees to stop part of the debt of R$ 47.9 billion.| Photo: Jonathan Campos/Gazeta do Povo archive

Americanas SA filed, this Monday (20), the judicial recovery plan to contain part of the R$ 47.9 billion debt announced last month.

According to the company, the plan provides for an investment of R$ 10 billion in new funds from shareholders; equivalent debt-to-equity conversion of up to R$10 billion; sale of assets such as Hortifruti Natural da Terra, the stake in the UniCo Group, owner of the Imaginarium and Puket brands, and the company’s aircraft; and restructuring of the remaining debt between repurchase and renegotiation (see full text).

Also according to the company, class 1 and 4 creditors (of a labor nature and micro and small companies) have already been excluded from judicial reorganization as per a previous decision, pending a response to an appeal filed by some creditors for payment of the residual balance.

Class 3 supplier creditors with debts of up to R$12,000 or those with debts greater than those who accept R$12,000 in exchange for full settlement of their credits will be fully paid after approval of the plan.

The same condition applies to class 3 supplier creditors, with debts listed above R$ 12,000 who meet, within 30 days from the presentation of the plan, the necessary requirements to qualify as a collaborating supplier.

“At the same time, we are making adjustments to the operation that will optimize sales and cash generation. This, together with the injected resources, will provide the necessary conditions for the payment of our creditors under this plan. We are fully convinced that the financial situation in which Americanas finds itself is manageable and that the company is economically viable”, said Leonardo Coelho, the new CEO of the company who took over in February to lead the recovery process together with CFO Camille Faria .

Altogether, Americanas SA has more than 1,800 points of sale and 40,000 employees.