SouthRock Capital, the company’s controller, owes approximately R$3.3 million to the Cásper Líbero Foundation
A Casper Líbero Foundation filed an eviction action against the group on Monday (6.Nov.2023) SouthRock Capitalcafeteria controller Starbucks. The reason is a debt valued at R$3.3 million in late rent.
The company is at risk of being evicted from one of its most famous properties, on Avenida Paulista, in São Paulo. The address is the same as where your office operates.
The information was published by the newspaper Folha de S. Paulo and confirmed by the Foundation when Power360. The institution said it will not take a position on the matter.
The immediate eviction, however, was not granted. According to judge Edna Kyoko Kano, from the 18th Civil Court of TJSP (São Paulo Court of Justice), the foundation did not provide a guarantee equivalent to 3 months of rent provided by law so that the preliminary eviction could take effect. The decision published on Wednesday (Nov 8).
The process was opened approximately 1 week after the controlling company filed a request for judicial recovery. On November 1, the TJSP denied the Starbucks operator’s urgent request for judicial recovery. The judge of the 1st Bankruptcy Court, Leonardo Fernandes dos Santos, requested an examination of the documentation presented before granting the process.
The company announced that the decision was taken with the aim of “financially protect your operations in Brazil linked to strategic decisions to adjust your business model to the current economic reality”. SouthRock also operates the brands Metro It is Eataly. Founded in 2015, it became the largest food and beverage franchisee in Brazil, according to the company’s website.
O Power360 contacted SouthRock’s press office asking whether the company would appeal, but did not receive a response until the publication of this report. The space remains open.
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