Consumer Discretionary

Americanas SA (AMER3 BZ)

Year: 2023

Brazilian retailer Americanas listed on the São Paulo Stock Exchange in March 2005. In January, the company's CEO of just ten days resigned upon the discovery of BRL20bn (US$3.9bn) of “inconsistencies” related to off-balance sheet supplier financing, prompting a share price collapse. The company is under bankruptcy protection and has established an independent committee to investigate although it has yet to report. 

Last updated September 2023

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