Casas Bahia postpones 3rd quarter balance sheet release until December

São Paulo Casas Bahia announced in a statement to the market released on Friday (6) that it has postponed the publication of the third quarter balance sheet until December 10th. The report was scheduled for next Wednesday (11).

According to the company, the postponement arises from "the need for additional time to complete the work of preparing, consolidating and reviewing periodic accounting and financial information by the company".

The company related the change to the judicial recovery process. "The extension of the schedule aims to ensure the consistency, accuracy and technical compliance of the financial statements to be disclosed, as well as full compliance with applicable regulatory requirements", states the statement.

With a declared debt of R$17.3 billion, the retail group filed for judicial recovery on August 17. Ten companies from the holding company are part of the action, including the brands Casas Bahia and Ponto Frio, the ecommerce Extra.com and the furniture manufacturer Bartira, as well as logistics and technology subsidiaries.

The judicial recovery was approved by the São Paulo Court in October. In the decision, judge Taina Maria Leonardo de Oliveira recognized that the retailer fulfilled the legal requirements.