The Toky Group, owner of furniture and decoration retailers Tok&Stok and Mobly, filed a request for judicial recovery this Tuesday (12), in Central Civil Court of the District of São Paulo. According to the decision, the company debt is from R$ 1.11 billion.
In the document, the company states that the measure aims to restructure liabilities of the company and avoid interruption of activities.
The group explains that the decision to file for judicial recovery is due to “macroeconomic factors”like maintenance of interest rates at high levels, the inflation and the indebtedness of Brazilian families. The company also mentions impacts of the Covid-19 pandemic no closing of physical stores by you rising raw material costs.
*Material being updated
