Brazil Court Approves Casas Bahia Judicial Recovery, $3B Debt

A São Paulo court approved the judicial recovery of Brazilian retailer Casas Bahia, which filed in August with R$17.3B in debts, mostly unsecured. The approval allows the company to restructure under court protection, but its financial viability remains uncertain. This signals stress in Brazilian consumer retail and may pressure creditors and the company's shares.

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