The iconic Casas Bahia store has closed its doors, sparking fear among employees
a Bahia Homes It is one of the largest furniture and home appliances stores in the country, with presence in the homes of millions of Brazilians.
With quality products at popular prices, Casas Bahia is present throughout the national territory with hundreds of stores.
Recently, Ramsey’s chain store closed its doors, coming to an end and leaving many employees worried.
The Casas Bahia store that has ended its activities is the unit located in Praça Ramos de Azevedo, in the center of São Paulo. The retailer has been located in the area since 2004, when Mappin’, the country’s first department store, ended its activities in the area.
The closure of the Casas Bahia store has caused the sign to be lit up in orange Ricardo PattahPresident of the Trade Workers Union of São Paulo: “When I saw the closing of the symbolic Casas Bahia store, I worried: it might be a sign that something is going on.”
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On a note, the network tried to reassure, claiming that unit closure is normal in the retail cycle, while others are closing.
Changes in the country’s retail business have employees worried, because many stores are laying off hundreds of employees: “I heard there were notices of cutbacks, but I still don’t have numbers because the terminations haven’t turned into approvals,” Ricardo said.
Why are retailers closing their doors?
Several Brazilian retailers have announced closing down or reorganizing their operations in recent months.
Among the large companies that will transform their business, we can mention Americana, where many units of the chain are undergoing changes and some of them have declared bankruptcy.
Last Monday (20), at the Fourth Corporate Court of Rio de Janeiro, Americana presented a plan for judicial reorganization, which takes into account all parties involved and focuses on preserving the business while creating value and equating the new capital structure, in an effort to plan recovery.
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CPI will hear from the president of Americanas and the nation’s largest audit firms