Americanas announced in a statement to the market this Monday (23) the hiring of consulting firm Alvarez & Marsal, specialized in the management of companies with serious financial problems.
The consultancy, based in the USA, has already worked on the restructuring of Rio de Janeiro retailers Leader and Casa & Video – both faced judicial recovery processes.
Alvarez & Marsal was also the administrator of Odebrecht’s judicial recovery, and later had former judge Sergio Moro among its staff. Moro’s hiring was investigated by the TCU (Union Court of Auditors) for conflict of interest.
According to the statement, Alvarez & Marsal will act as the “PMO (Project Management Office)” in relation to the judicial recovery process, which Americanas joined last Thursday (19). In practice, the company will support the business restructuring process.
“A&M will act in coordination with Rothschild&Co, the company’s interlocutor in the renegotiation of the financial debt. The company’s objective is to ensure that the executive team has all the support and reference tools in the market to achieve the strategic objectives of the business”, says the text .
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