According to the company, this seeks to preserve its operations while, in the short term, a new bailout option is being structured at the initiative of the creditors themselves.
(Read: Creditors agree to Justo & Bueno’s reorganization)
The trade chain has announced that on Friday, October 29, it will officially request acceptance by Companies Control Authority for the business reorganization process under the provisions of Law 1116 of 2006.
(Read: fair and good, for the reorganization process)
He added, “This law seeks to restore and preserve financially viable companies that are going through short-term situations that prevent them from paying their obligations. It is the reasonable and just solution that the company found after withdrawing the potential investment of foreign capital.”
Born in 2016, Justo & Bueno generates nearly 20,000 direct and indirect jobs and has 1,218 stores in 308 municipalities.
He said in a statement that the company remains strong with Colombia, with collaborators, creditors and allies, Despite the fact that the epidemic and unemployment put his process under control.
On September 29, Mercadería Justo & Bueno reported that it had reactivated the entry of an international funder – VR Capital Group from the US – to regain its attractiveness.
“On September 28, Mercadería submitted to the corporate oversight body an application for authorization for a financing operation that, if approved by the entity, would mean actual income of $75 million in working capital to permanently close the operating restructuring.“, It is to explain.
Now, expectations are maintained about the odds that the series should move forward.