Atlantic Export and Import, Cafebras, Montesanto Tavares Group Participações and Minas Gerais Investment Company in Cafes said in a note last Friday that they filed a request for judicial recovery to restructure a total liability of R $ 2.13 billion.
In a process distributed to the 2nd Business Court of the District of Belo Horizonte, the companies stated that the measure derives from an economic and financial crisis resulting, mainly, the significant number of rolings (extending the delivery time) of coffee and defaults of producers.
Last November, the Atlantica Coffee and Cafebras tradings of the Montesanto Tavares Group had already filed in court the request to open negotiations with their creditors, in the face of coffee prices, which reached records recently.
The companies also stated that the situation was aggravated by the recent highs in the price of coffee and the devaluation of the real in relation to the dollar.
“The recoveries have always valued respect for commitments and perseverance, striving to act with excellence in the delivery of their products and services. The request for judicial recovery made is in line with these values and, without a doubt, will serve that the financial difficulties are overcome, ”he said.
Companies reiterate in the statement their “commitment” with their employees, customers, producers and creditors.
