Rede Dia files for judicial recovery

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This happens after the supermarket chain closes more than 300 stores in Brazil

The supermarket chain Dia filed a request for judicial recovery, which comes days after the company announced the closure of more than 300 stores in Brazil.

The company, which arrived in the country in 2001, has a debt estimated at more than R$1 billion of this total, R$268 million of which are bank debts.

In a statement, the Spanish company stated that the judicial recovery takes place only in Brazil and will not affect operations in Spain and Argentina. The network also informed that the request is a way of protecting its economic activity and fulfilling its commitments.