2023-12-02 11:00:08
Judge Nelson Jorge Júnior, from the 13th Private Law Chamber of the São Paulo Court of Justice (TJ-SP), authorized the seizure of assets of two high-ranking members of the Southrock group, which controls the Starbucks and Eataly coffee shop chain in Brazil.
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R$5.3 million will be seized from the group’s CEO, Kenneth Pope, and the financial head, Fábio Rohr. The decision responded to a request from Banco Pine, to which the group owes R$14 million.
Read more: “Starbucks didn’t understand the Brazilian market, says lawyer”
According to the request, Eataly and Southrock were summoned in early November to indicate assets that would serve to execute the debt with the bank. As the indication did not occur, the financial institution requested the granting of the attachment online.
According to lawyer Gabriel de Britto Silva, specialized in Business Law, without payment of the debt and without indicating assets, the seizure becomes appropriate.
Like Starbucks, Eataly filed for bankruptcy protection
Eataly’s controller filed a request for judicial recovery at the end of October. However, judge Leonardo Fernandes dos Santos has not yet decided on the merits of the request.
Read also: “Starbucks global says it hopes to continue operating in Brazil”
Last Thursday, the 30th, the judge ordered the inclusion of the Subway snack bar chain in the list of businesses subject to judicial recovery.
Eataly’s controller filed a request for judicial recovery at the end of October. However, judge Leonardo Fernandes dos Santos has not yet decided on the merits of the request | Photo: Reproduction/Wikimedia Commons
Companies managed by Southrock in Brazil owe 2,357 creditors. With former employees, the debt of the company that controls Starbucks is R$10.4 million. Around 885 people are waiting for debt payment.
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