Retailer Ricardo Eletro, controlled by Máquina de Vendas, had its bankruptcy decreed by the Justice of São Paulo last Wednesday (8). The company filed for bankruptcy protection in 2020.
As anticipated by the newspaper Valor Econômico and Sheet confirmed, the bankruptcy was decreed by Judge Leonardo Fernandes dos Santos, of the 1st Court of Bankruptcy and Judicial Reorganizations of the Foro Central de São Paulo.
In his decision, the judge pointed out that “there was the identification of several factors of asset emptying” and that the judicial recovery “does not meet the conditions for proceeding”.
The magistrate adds that every entrepreneur should know, when making the decision to develop this type of activity, that he may face crises. “It turns out, then, that the bankruptcy of the unfeasible company is the most appropriate solution from an economic and social point of view.”
The Court also determined that the company’s partners present, within five days, the nominal list of creditors, discounting what has already been paid in the judicial recovery and including the credits that were not subject to recovery.
Also according to the judge, the creditors will have reconstituted their rights and guarantees under the conditions that had been contracted, after deducting the amounts paid in the judicial recovery.
The magistrate also kept Laspro Consultores as judicial administrator.
According to the newspaper Valor Econômico, the Máquina de Vendas group filed an appeal with the 2nd Chamber of Business Law this Thursday (9). wanted by Sheetthe company did not return the contact to confirm the information.
In October 2020, the retailer filed its judicial recovery plan. At the end of last year, the amount of indebtedness exceeded R$ 4 billion.
Ricardo Eletro was founded by Ricardo Nunes in the countryside of Minas Gerais, in 1989. It had more than 1,100 stores throughout Brazil, with more than 12 thousand direct employees.
In 2020, the founder of Ricardo Eletro was arrested on suspicion of tax evasion, being later released.
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