The end of one of the largest factories in Brazil

The end of one of the largest factories in Brazil

Serious crisis: a sad end to one of the largest factories in Brazil

After the pandemic, many companies entered into a crisis and were declared bankrupt, when the economy could not be strengthened and the judicial recovery was not as successful as expected.

One of them was a famous shoe company, which had debts of 32 million Brazilian reais, according to information from the Exclusivo website.

The factory in question was part of the São Francisco conglomerate, with companies focusing on shoe production in São Francisco de Paula/RS and Parobé/RS, and was declared bankrupt by the government. Judge in bankruptcy, judicial reorganization, civil insolvency and commercial litigation in the Federal District.

The company ended up surprising about 158 ​​of the company's employees, who, upon arriving on a normal work day, were surprised to arrive at work and find the factory doors closed, and the machines also absent.

In a memorandum, Judge Alexander Cosby-Boera noted that there was evidence of corporate abandonment and misappropriation of assets, which fully characterizes insolvency.

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The name of the company in question is Mania Brasileira Comércio de Calçados Eireli Me, which succumbed to the health crisis of the pandemic, laid off workers and entered into an unprecedented crisis.

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The shoe factory, affiliated with the Sao Francisco group, declared bankruptcy (Photo Reproduction/Internet)
The shoe factory, affiliated with the Sao Francisco group, declared bankruptcy (Photo Reproduction/Internet)
President of the Judicial Recovery Court of Novo Hamburgo, Alexandre Cospe Buera (Photo Reproduction/OAB)
President of the Judicial Recovery Court of Novo Hamburgo, Alexandre Cospe Buera (Photo Reproduction/OAB)
Bankruptcy and debt: the end of the traditional shoe factory
The end of a traditional shoe factory – Photo: TV Foco

The court then ordered that the amounts in the accounts registered in the name of the bankrupt be seized and transferred to a judicial account.

Furthermore, the court also prohibited the trading of cars in the name of the defendant, and also ordered a real estate search to be conducted in the name of the bankrupt company and its partners.

What is the status of the factory bankruptcy process?

According to GZH, lawyer Diego Estevez, who was the company's judicial director, was the person responsible for evacuating the factory.

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