Olímpica SA informed that in alliance with Plan B Investments SAS they are working on the construction of a new store concept hard discount. As explained by this company, they seek to hire the workers, suppliers and owners of the premises of the recently liquidated Justo & Bueno stores.
“Since last Thursday, August 4, the date on which the definitive liquidation of Mercadería SAS was declared, different plans and actions have been managed with a view to ensuring the start of commercial activities in satisfactory conditions, and 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 cheap prices and high quality”, the company said in a statement.
According to the supermarket chain, known for belonging to the Char family from Barranquilla, investments are US$ 60 millionwhich will contribute to the establishment and growth of this new store concept.
Olímpica SA explained that depending on the number of stores with which operations begin, The company estimates that at least 3,000 jobs can be recovered, which will benefit the entire production chain. Likewise, small and medium-sized companies in the country will also benefit mainly, which, according to what they indicate, generate close to 10,000 jobs.
“As these processes progress, complying with the liquidation rules, we will report the consolidation of these initiatives that aim to protect the company and employment,” the announcement document concludes.
Liquidation of Fair & Good
The Superintendency of Companies investigates the founder of the Justo & Bueno stores, Michael Olmi. Exclusively for WEEK, The leader of this entity spoke after imposing a fine on Olmi for contempt of requirements made by the surveillance entity, in the investigation process that is being carried out around the case.
SEMANA: Is the fine imposed by the SuperSociedades on Michael Olmi just because he doesn’t want to listen to collaborate with the investigation around the bankruptcy of Justo & Bueno?
Billy Escobar: When these situations occur, the Superintendency of Companies reviews, on the one hand, what concerns the liquidation of the company, but, on the other hand, there are the circumstances of how the business was managed. Then, in a parallel way, we begin to inquire about how the corporate management was, if it was adequate or not.
That is where situations are found that eventually lead to an investigation with a view to establishing responsibility in corporate management.. Above all, because there are a large number of affected. It was not possible to respond to suppliers, workers, anyone, not even tax obligations.
SEMANA: Have you already found something about how a discount chain could go bankrupt, while the competition did well?
B.E.: That’s right, they came in handy and from one moment to another an abrupt change is seen. That’s when you have to check thoroughly. On the one hand, came the process of voluntary reorganization, taking advantage of the emergency law. Then they said that an investor was going to arrive and that was the whole of 2021. They did nothing. Then comes the jurisdiction of the Superintendency, when we run out of time. We entered and put, so far this year, all the necessary effort for a reorganization to take place.
After three months reviewing, we were able to identify that there was no room for reorganization. We entered the liquidation process, which was postponed for a possible salvage. Finally, it did not happen, which leads to starting the delivery of premises and responding with the obligations with what little there is. It is what is being done.