Bankruptcy Court accepted the request for judicial recovery
One of the most emblematic places in So Paulo, Livraria Cultura was declared bankrupt by the Justice, this Thursday (9). The decision came almost five years after the 2nd Bankruptcy Court of the Civil Forum accepted the request for judicial recovery.
The value of the recovery request would have been BRL 285 million, a good part of which went to banks and suppliers.
As reported by G1, judge Ralpho Monteiro Filho even cited in the decision the ‘non-compliance with the judicial reorganization plan’ in order to justify bankruptcy.
The company, which had been experiencing a crisis since 2015, has two physical stores: So Paulo and Porto Alegre (RS), but also maintains operations through its e-commerce and social networks.
