Marisa stores announce closure of 91 stores – 05/18/2023 – Market

The CEO of the Marisa chain of stores, João Pinheiro Nogueira Batista, announced that the company will close 91 units, in a process that should cost around R$ 62 million.

Between March and April this year, the retailer closed 25 stores. In May, another 33 units will be closed and, in June, another 33 establishments will also close their doors.

In a statement, the company justified the closure of stores to the fact that these units are “deficit by definition”, in addition to the process of restructuring the brand. With the measures, the company estimates that it will have an increase in Ebitda (earnings before interest, taxes, depreciation and amortization) of almost R$ 70 million per year.

The group’s recovery plan also includes a reduction in expenses totaling R$52 million, R$32 million of which from an internal review, R$9 million from management positions and R$10.5 million from a review of activities.

At the beginning of the year, Marisa had already started the restructuring process, when it had a debt of around R$ 600 million.

Now, the network announced that the debt renegotiation process with suppliers and property owners, marked by a strong partnership, has already reached the expressive mark of approximately 90% of suppliers and 65% of property owners.

In the first quarter of 2023, Marisa recorded a net loss of BRL 149 million, up 64.2% compared to the same period in 2022. Even so, the company had positive net revenue compared to last year, with revenue of BRL 440.5 million.