‘Stores remain open and with full shelves’, says president of Americanas

In balance of the 30 days of the crisis that led to the judicial recovery, Americanas claims that it is operating normally, with adequate levels of its own stock and also of partner store owners who sell products through the retailer’s digital channels.

The retailer says it adopted internal measures to investigate the so-called “accounting inconsistencies” that led the company to ask for protection against creditors in court, such as the creation of an independent committee and the removal of the board. The BRL 20 billion accounting scandal led the company to file for judicial recovery, with declared debts of BRL 43 billion.

“Americanas continues to operate normally in its physical stores, on the company’s websites and applications, maintaining its purpose of delivering the best experience, and with adequate levels of its own inventory and also that of merchants in the marketplace,” says the statement.

A Sheet, however, found empty shelves in visited chain units in São Paulo. Some suppliers are no longer interested in continuing to sell to Americanas. In recent weeks, the company has also started layoffs.

To avoid losing partners, the company started a pilot weekly payment program for sales on its marketplace. So far, shopkeepers receive every 15 days, a deadline that the company says is being met.

“Deliveries continue to be carried out regularly and the company maintains its excellent reputation for the high rate of solutions in the Reclame Aqui ranking, a body that has recognized the brand’s good service for ten years”, continues the text.

The company obtained approval in court for a loan of up to R$ 2 billion to guarantee working capital to maintain operations. Of this total, R$ 1 billion will be borrowed by the company’s reference shareholders, the trio of billionaires Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto Sicupira.

This money will be used to guarantee operations and payments to suppliers while the company defines its judicial recovery plan, work for which it hired the consulting firm Alvarez & Marsal.

In the document, the company says that it has not started any process of mass layoffs and that it “reinforces its commitment to continue fulfilling all obligations, such as paying salaries and benefits on time, and to maintaining a close relationship and dialogue with unions” .

In a letter to employees, the interim president of Americanas, João Guerra, reinforces the commitment and thanks the workers for maintaining operations. “We all know the seriousness of the moment. We didn’t lose our nerve. Our answer was more effort and more focus”, he wrote.

“The stores are still open and the shelves are full”, he says, adding that the result of this effort can be seen in the “affection” of the customer. “The response we received could not be more touching. On our social networks we gained more than 100,000 new followers.”

Guerra points out that, although he believes in a solution to the crisis, the result depends on factors that the company does not “entirely” control. But he also cites the hiring of Alvarez & Marsal and the loan authorized by the Court as positive steps.

“While the efforts of the recovery plan continue, I can promise that we, here, will continue to keep the flame lit at the maximum”, he says. “With that, we are confident to say that we have already accelerated the preparations for our Easter, an event that is so symbolic for Brazilians and so significant for us.”