After the first day of closed stores and warehouses, the fate of the Fair & Good chain It will be defined today in the Superintendence of Companies and everything indicates that what follows is the liquidation.
The request to enter this process was presented by Mercadería SAS to that control body, after acknowledging that the operation is unfeasible given that the Chinese ally did not comply with the commitment to allocate the resources to get the company out of the financial crisis.
(Fair & Good: the scenarios facing the chain).
He explained, through his attorney, that the request is made because “There was no entry of resources to the SAS Merchandise accounts nor was there any news that any third party had made payments of administration expenses by the company on the date that had been publicly announced.”.
“The information regarding the administration expense payment plan was not received either, to have provided it on May 6, as ordered in the Hearing,” said the company, in a statement in which it announced the decision yesterday.
In addition to the announcement, he said that he filed with the Superintendency the agreement for the sale of HD Colombia SA, parent company of Mercadería SAS to the company JF Capital International Ltd. which was signed on March 29.
Knowing the decision to close the premises and the scenario of a possible liquidation, owners of the properties, workers and affected companies announced that today they will be at the headquarters of the Superintendence demanding that they be answered for the credits.
Even some people who feel harmed They announced that they will go on a hunger strike to demand a solution to the financial problems they face due to the crisis in the chain of commerce.
(Justo & Bueno will close its stores and distribution centers).
The Superintendent of Companies Billy Escobar pointed out that in the hearing scheduled for today the judge will have to make a decision on the situation of the company.
He indicated in dialogue with Portafolio that in the chain there is a great delay in payments of all kinds,
Said “We will make an immediate decision. The deadlines have already been given and tomorrow (today) a substantive decision must be made, to give the country peace of mind, because we cannot delay this situation”.
He explained that the judge in the case will rule in view of the fact that the administration did not meet the deadlines that had been given to demonstrate the viability of the company.
Noting that the Superintendency has acted diligently, he recalled that two dates were set at the last hearing.
For May 6, a request was made for report on the structuring of an alleged business in which a new investor or buyer appeared because the file did not appear in this regard. “But that never came,” Escobar reported. “The Chinese Fund is not in the file, so for us it does not exist,” warned the official, although hours after the statement by the official Merchandise, he said that he had filed with that entity the purchase agreement on behalf of JF Capital International.
Likewise, Billy Escobar added, that a deadline was set for May 10 for the payment of pending obligations to be evidenced and he did not appear either.
If liquidation is the path for the company, in view of the file there would be no resources to deal with the debts. Likewise, said Escobar, the law is clear in giving priority to labor commitments and obligations to the treasury. He said that since the reorganization began in January, to date, the cash deficit registered by the company amounts to more than $170 billion. These resources should be used to pay salaries, social benefits and parafiscal affiliations.
If the liquidation process of Justo & Bueno takes place, the chain becomes the second in the sector to enter this process in less than a year. The first was the 14.
BRIEFCASE