Bankrupt Americanas owes over $8 billion to creditors

Brazilian retail giant Americanas currently owes its creditors $8.1 billion, a court has said.

The company entered bankruptcy protection last week after disclosing ‘inconsistencies’ in its accounting. Its list of 7,720 creditors, published on Wednesday, includes the likes of BlackRock and Capital Group among others.

Brazilian bank Bradesco is listed with claims of around 4.8 billion reais (around $945 million) and is reportedly planning on filing an international lawsuit against Amaricanas. Deutsche Bank topped the list with $1 billion, though the German bank has said it has no exposure to the retailer and that it would be unaffected by the bankruptcy.

Santander which is owed over $740 million meanwhile has appealed the bankruptcy protection.

The retailer on Wednesday sought protection under Chapter 15 of the US bankruptcy code in an effort to protect its US assets from creditors.

The retail chain, founded in 1929, currently operates around 2,000 stores across all 26 Brazilian states and in the Federal district. It is the sixth largest retailer in Brazil.

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