Grupo Petrópolis files for judicial recovery

Grupo Petrópolis files for judicial recovery – Last Monday (27), Cervejaria Petrópolis, responsible for the brands Itaipava, Crystal and Petra, filed a request for judicial recovery in the courts of Rio de Janeiro. The company accumulates a debt of R$ 4.2 billion.

According to information contained in a document filed with the Judiciary, the group in question has been facing a liquidity crisis for about 18 months, as a result of a drop in its revenue. According to the same document, the group’s total debt comprises 48% of financial debts and 52% of amounts related to suppliers and third parties.

Grupo Petrópolis files for judicial recovery

_{Due to the drop in consumption, Grupo Petrópolis enters into judicial recovery. (Reproduction/Freepik)}

According to information contained in a document filed with the Judiciary, the group in question has been facing a liquidity crisis for about 18 months, as a result of a drop in its revenue. According to the same document, the group’s total debt comprises 48% of financial debts and 52% of amounts related to suppliers and third parties.

According to a statement released by the company, the unprecedented liquidity crisis at Grupo Petrópolis was caused by a combination of factors beyond the company’s control. This situation compromised the group’s cash flow to the point of making it necessary to seek legal protection, through a request for judicial recovery.

As informed by the group, the increase in the main interest rate is having a considerable effect of approximately R$ 395 million per year on the company’s financial flow.

This Monday morning (27), the group won a court victory when an urgent precautionary measure was granted that determined the release of the company’s resources by the banks Santander, Fundo Siena, Daycoval, BMG and Sofisa.

The court decision represents an important advance for the company, which can count on the resources to continue its operations. The Petrópolis group is overcoming a liquidity crisis that has been going on and getting worse for approximately 18 months. In view of the reduction in revenue in this period, due to the drop in the number of sales.

Regarding its liabilities, Grupo Petrópolis says that its pending financial obligations, in large part, result from transactions in the capital market and financial operations.

Featured photo. Petropolis Group. Playback/Grupo Petrópolis