Most of the debt is with microentrepreneurs and companies; if the request is accepted, the company will have 60 days to present a plan
A Cheese Bread House filed a request for judicial recovery. The request was filed with the Business Competence and Arbitration-Related Disputes Court of the 4th Judicial Administrative Region, in Campinas (SP). The estimated debt is R$ 57.5 million.
The coffee shop chain has 170 franchises. However, the request only refers to the 28 branches – managed by the company itself. holding– located at airports. So far, 19 branches have been closed. The remaining stores and their operations will not be impacted, the company informed g1.
Most of the debt is with unsecured creditors (those who do not have guarantees or preference for payment of the credit), totaling R$55.9 million. Around R$1.4 million is owed to small entrepreneurs or companies and R$224.3 thousand are labor debts.
If accepted, the company’s request would require it to submit a recovery plan within 60 days. The coffee brand said it has the capacity to recover, but asked that lawsuits and debt enforcement be suspended.
PANDEMIC AFFECTED BUSINESS
Among the reasons for the request for judicial recovery, Casa do Pão de Queijo said that it was greatly affected by the pandemic, since most of its branches were opened in airports and places with high traffic.
The company cited the growth phase recorded due to major events in Brazil from 2014 to 2019, such as the World Cup (2014) and the Olympics in Rio (2016).
According to the coffee shop chain, in the first 3 months of the pandemic, there was a 97% drop in revenue and in all of 2020, it was 50%.
Despite going to court, Casa do Pão de Queijo said that the operations of its branches and the number of employees will not be affected. The company also said that new franchises will be opened in the coming months. It is also expected to launch new products.
#debt #R57.5 #million #Casa #Pão #Queijo #files #judicial #recovery