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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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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