Mar 3 • 22:13 UTC 🇧🇷 Brazil Folha (PT)

Pão de Açúcar sends letter to suppliers to explain crisis in the group

GPA (Grupo Pão de Açúcar) reassures its suppliers about ongoing operations and debt negotiations following a significant stock drop and a credit rating downgrade by Fitch Ratings.

GPA, or Grupo Pão de Açúcar, recently sent a letter to its suppliers to alleviate concerns regarding the company's financial stability. With the retailer facing a substantial debt renegotiation process primarily with financial creditors, such as banks, it emphasized that all obligations toward its suppliers continue to be met on a regular basis. This communication seeks to mitigate fears of a potential default that could lead to supply chain disruptions.

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