Brazil's Americanas files for bankruptcy protection after accounting scandal
CEO Sergio Rial resigned less than two weeks after taking the job citing the discovery of nearly $4bn in 'accounting inconsistencies'
Source: businesslive.co.za
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Billionaire-backed Americanas files for bankruptcy protection, shares tank
Americanas, backed by the billionaire trio that founded 3G Capital, said in a securities filing that it will restructure debts of about 43 billion reais ($8.23 billion). Shares in the company plunged more than 25% to 1.30 real following news of the filing, extending its year-to-date drop to roughly 87%.
Source: devdiscourse.com
Billionaire-backed Americanas Files For Bankruptcy Protection, Shares Tank
Brazilian retailer Americanas SA on Thursday filed for bankruptcy protection, days after uncovering nearly $4 billion in accounting inconsistencies and amid a legal feud with creditors.
Source: ibtimes.com