12/30/2023 – 20:02
SouthRock Capital, a food chain manager in Brazil, announced that Starbucks will discontinue its application in Brazil, its loyalty program and will stop receiving payments from its exclusive card. The measures are valid from January 31, 2024.
On the drinks brand's social networks, the company published contact channels to answer customers' questions and thanked them for “their trust and loyalty over all these years”. Consumers will then have until the end of January to exchange points for products and spend their Starbucks Card balance.
SouthRock also manages the Eataly, TGI Friday's and Subway chains in the country, in addition to Brazil Airports, and filed for judicial recovery on October 31, with debts estimated at R$1.8 billion.
On December 12, judge Leonardo Fernandes dos Santos, from the 1st Bankruptcy and Judicial Recovery Court of São Paulo, accepted SouthRock's request for judicial recovery.
Santos admitted the processing more than a month after the company's request. He complied with last week's determination by the Court of Justice of the State of São Paulo (TJ-SP) to keep Eataly and Subway out of the process. With the approval, the judge suspended all actions and executions against SouthRock for 180 days. She has 60 days to present the judicial recovery plan, which will be submitted for approval at a creditors' meeting.
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