Americanas says it will continue to operate normally within the new rules of judicial recovery. The company’s total debt reaches R$ 43 billion.| Photo: EduardoP/CreativeCommons

Americanas SA disclosed this Thursday (19) to the financial market a material fact informing that it intends to file for urgent judicial recovery “in the next few days or potentially in the next few hours”. The disclosure of this type of statement is a determination of the Securities and Exchange Commission (CVM) and takes place after the registration of a gap in the company’s financial balance sheet that exceeds R$ 20 billion. The financial debt of the group reaches R$ 43 billion.

“Americanas management announces that it will continue to operate normally within the new rules of judicial recovery, one of whose main objectives is the maintenance of jobs, payment of taxes and the good relationship with its suppliers, creditors and investors in general” , says the company in a note.

According to Americanas, the request is the result of the position of the Special Body of the Court of Justice of Rio de Janeiro (TJRJ), which suspended, in a monocratic decision referring to a writ of mandamus filed by Banco BTG, the effect of the concession established by the Tenth Fifth Civil Chamber, also from the TJRJ, to resume the company’s rights to recover amounts offset by creditors under the terms of the precautionary decision handed down by the 4th Corporate Court of the Court of Justice of Rio de Janeiro, this week.

In the same decision, the Special Body determined the blocking of BRL 1.2 billion in Banco BTG’s account until the assessment of the writ of mandamus. Americanas stated that, in addition, the company’s available cash position for its activities reached, this Thursday (19), the amount of R$ 800 million, of which a large part is unavailable for handling. As reported by the Special Body, a significant portion of this amount was unjustifiably unavailable for handling by the company on yesterday’s date.