Starbucks Global says it hopes to continue serving in Brazil – 11/02/2023 – Café na Prensa
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Starbucks Global said it is committed to the Brazilian market and hopes to continue serving the coffee shop’s customers in the country. The statement comes after SouthRock, which operates the chain’s stores in Brazil, filed for judicial recovery.
Wanted by Coffee in the PressStarbucks vice president of global communications, Marianne Duong, said she was aware of SouthRock’s decision to “restructure its commercial operations”, but declined to give further details about negotiations with the fund that operates the brand’s stores in Brazil .
“As a brand with a presence around the world, we have active and ongoing conversations with our licensed business operators as a normal part of business. As a standard practice, we do not disclose the content of our internal discussions with our licensed business operators,” said Duong, per email.
SouthRock Capital, which, in addition to Starbucks, operates brands such as Subway and Eataly in Brazil, filed for judicial recovery on Tuesday (31) at the 1st Bankruptcy Court of São Paulo citing debts of R$ 1.8 billion. Subway was not included in the petition.
Judge Leonardo Fernandes dos Santos denied the initial request, but SouthRock said it will appeal.
On October 13, the company had already lost the right to use the Starbucks brand in Brazil due to late payment provided for in the licensing agreement.
SouthRock also said that while it restructures its business, “all brands will continue to operate.”
On Wednesday (1), however, several Starbucks stores were closed in Brazil, and there were reports of layoffs.
Wanted by Coffee in the Press for comment on the store closures and layoffs, SouthRock said it would not provide further details.
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