GPA (Companhia Brasileira de Distribução – ) announced this Tuesday (10) the signing of an agreement with its main creditors to present an extrajudicial recovery plan.
The initiative, communicated to the market as determined by corporate and regulatory legislation, marks a new chapter in the negotiations that the company had been conducting in recent months, the company stated.
According to the relevant fact released by the company, the plan covers around R$4.5 billion in unsecured financial obligations — debts that are not part of GPA’s current operations. The company emphasized that suppliers, business partners, customers and employees will not be affected by the process. Labor obligations and recurring payments remain fully preserved.
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The agreement was signed with creditors representing 46% of the total amount of credits subject to the plan, equivalent to approximately R$2.1 billion. The percentage exceeds the legal minimum quorum of one third established by Law No. 11,101/2005 for this type of procedure, which gives the plan immediate validity.
As a result, the financial obligations contemplated in the agreement are suspended for an initial period of 90 days. This interval seeks to guarantee predictability and stability to the process, allowing the company to advance in negotiations to obtain support from the majority of creditors involved. The objective is to achieve a structured solution that balances short-term liquidity needs and long-term financial sustainability.
GPA management states that the plan constitutes a fundamental step to strengthen the balance sheet, improve the debt profile and prepare the company for its future phase. The company also highlighted that the process has been conducted in constructive dialogue with its creditors, which would have facilitated the progress of negotiations.
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“The company clarifies that the process was structured in order to preserve the operation of its stores, which should continue to operate normally. Its operations are healthy, and the company is up to date with its obligations to suppliers, customers and partners, who are excluded and will not be affected by the extrajudicial recovery process”, he stated.
With this measure, GPA seeks to reorganize its financial structure without compromising its commercial activity, preserving the company’s operations while conducting strategic negotiations to reduce its debt and ensure greater solidity in the coming years.
