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Atacarejo Assaí is considering cutting investments and selling stores

Atacarejo Assaí is considering cutting investments and selling stores

a order Assaí wholesale chain investments decline and may reduce the amount or sell assets, such as private stores, due to the increased cost of capital, as base interest rates escalate.

The statement was released during a conference call held by the Wholesale Department, on Tuesday 4.

The company seeks to reduce debt levels, and in this context it realizes that the course of selling assets or reviewing investments makes more sense in the short term. However, management highlighted that the issue is still being evaluated by the group.

Assaí leadership has reported that 22 store businesses are currently in progress, with conversions of units that house Assaí’s Extra Hypermarket, and are being maintained “for the time being,” according to Belmero Gomez, the company’s president. .

“Because of interest rate pressures and increased leverage, it is easier to review investments or sell owned store assets,” the executive said. However, according to him, the review is for this year and for 2024, to counter the increase in the cost of debt.

The company ended the last quarter of last year with a negative net financial result (expenses greater than revenues) 30% higher, compared to the same period in 2021.

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