Brazil’s Americanas exits bankruptcy proceedings

SAO PAULO, Oct 19 (Reuters) – A Rio de Janeiro court on ​Monday approved Brazilian ‌retailer Americanas’ formal conclusion of bankruptcy proceedings, the company said in a securities ‌filing.

• ​Americanas unveiled ⁠accounting inconsistencies in ⁠early 2023 worth multi-billion dollars that led it to file for bankruptcy ​protection in Brazil.

• The company claimed ⁠it had been ⁠impacted by fraudulent ​activities from its former ​management.

• A Rio de ‌Janeiro court has turned 12 former executives of Americanas into defendants ⁠as part of the case.

• In the filing, Americanas said ⁠it ‌is committed ⁠to growing its operations, ​sustainably ‌strengthening its business ​model, ⁠and enhancing customer experience.

(Reporting by Igor Sodre and Andre Romani in Sao Paulo, Editing by Iñigo ​Alexander)