The company reported that the companies under recovery and their partners, shareholders, administrators and directors remain at the forefront of conducting business activity
Toy manufacturer Estrela reported this Wednesday, 20, that it filed for judicial recovery. The application was filed in the District of Três Pontas (MG) and includes other companies in the group.
In a relevant fact sent to the Securities and Exchange Commission (CVM), the company states that the decision to file for judicial recovery arises from the need to restructure the group’s liabilities, in a context of economic and sectoral pressures. Estrela cites the increase in the cost of capital and credit restrictions, changes in consumer behavior, with greater competition from digital alternatives, and impacts accumulated in recent years on the financial structure of the company and other companies in the group.
Still according to the document, judicial recovery aims to allow overcoming the economic-financial situation through the reorganization of debtpreserving the continuity of business activities, jobs and the creation of value for stakeholders.
The company also reported that the companies under recovery and their partners, shareholders, administrators and directors remain at the forefront of conducting business activity. The company said that it maintains its industrial, commercial and administrative operations, in addition to serving customers, partners and suppliers, and that it will adopt measures to ensure business continuity during the process.
The company stated that it will present the Judicial Recovery Plan in due course, which will be submitted to creditors for approval, and which will keep shareholders and the market informed about relevant developments.
*Content prepared with the help of Artificial Intelligence, reviewed and edited by the Broadcast editorial team, Grupo Estado’s real-time news system.
