Justo & Bueno: Olímpica prepares business to replace business - Business - Economy

Through a statement, Olímpica SA. announced the creation of an emergency fund for 1,000 million pesos to support people affected by the liquidation of Mercadería SAS, including former employees, suppliers and owners of the premises, in which the chain operated Fair & Good.

(You can also read: The reasons for the end of Justo & Bueno: 20 days to return premises to their owners)

In that same document, Olímpica SA informed that, in alliance with Plan B Investments S.A.S., are structuring a new store concept hard discount in Colombia, and will have resources in the order of 60 million dollars to guarantee the process of growth and consolidation of the new chain of stores, for which are working hard with various interest groups interested in the businesswhich suggests that it could emerge as the ‘salvation table’ of Justo & Bueno.

(You can also read: Justo & Bueno is no more: they order to reactivate liquidation and return premises)

“Since last Thursday, August 4, the date on which the definitive liquidation of Mercadería SAS was declared, different plans and actions are managed with a view to ensuring the start of commercial activities in satisfactory conditionsand above all with an attractive value proposition that will make the customer’s shopping experience pleasant, offering an adequate portfolio of products from the family basket, with very affordable prices and high quality,” the statement said.

Depending on the number of stores with which operations begin, Olímpica SA estimates that at least 3,000 jobs would be recovered, as would hundreds of suppliers, mainly SMEs, through recurring purchases, and that they also generate around 10,000 jobs.

(Also read: Tax would prohibit payments of more than $ 10 million in cash: Ocampo)

To the extent that these processes progress, complying with the liquidation rules, We will inform about the consolidation of these initiatives that aim to protect the company and employment.

Schedule for delivery of the premises

The Superintendence of Companies filed on August 8 the delivery schedule of the Justo & Bueno stores.

There is more of 1,000 establishments. The schedule indicates the cities, addresses and names of the owners of the tenants and until the date proposed for the delivery of the real estate. The delivery is established from August 9 to 27, depending on each case.