Although the Superintendency of Companies left firm the liquidation of Merchandise, parent company of the Justo & Bueno chain of stores, one last possibility was left open to save the company.
(You can also read: Justo & Bueno requested liquidation before the Supersociedades)
Judge He said that in the next 30 days new offers may be presented to save the company and he assured that in the next hearing the capitalization proposal made by the creditors themselves will be evaluated.
And it is that during the development of the hearing a large group of creditors asked the judge in charge of the process not to decree the liquidation since they had a formula with which they could start the Justo & Bueno stores again, to that within a year it could be operating normally and generating a higher level of sales than they had in 2019 when they were of the order of 214,000 million pesos.
Marcos Monroy, one of the spokespersons for these creditors, during his speech at the hearing, insisted to the delegate of the Supersociedades (Santiago Londoño), to give them the opportunity to take the company forward and present a detailed plan of operation of the samefor the sake of balance within the process, in which the Merchandise representatives had enough time to contribute resources from an investor who never arrived.
Monroy said at the hearing that some of those creditors are even capable of contributing more capital, via merchandise and products, as well as money to keep Justo & Bueno operating, as well as pointing out that there are development banks willing to provide liquidity, via loans, in case it is needed later.
“Some effects of the liquidation are suspended, but the appointment of the liquidator and the removal of the administrators are maintained,” said the judge.
In addition to this, Santiago Londoño, Insolvency Proceedings delegate, decided that the designated liquidating agent, Darío Laguado Monsalve, must present in one month a valued inventory of the assets that make up the company’s assets and a list of the administration expenses that may serve as a basis for the capitalization proposal made by the bidders.
“This decision also implies that the designated liquidator be ordered that within the month following this order, he must present a valued inventory of the assets that make up the assets of the bankrupt and a list of liquidation administration expenses that may serve as a basis for the capitalization proposal made by the bidders”, said the judge at the hearing.
Londoño indicated that until the end of last year the company had assets of 870,000 million pesos, but that for the liquidation process they will be updated to date, which will be taken into account to respond for the obligations that Merchandise currently has. . Only so far in 2022 the new debts amount to more than 170,000 million pesos.
Only so far this year the new debts of Justo & Buenno amount to more than 170,000 million pesos.