Companhia Brasileira de Distribuição (GPA, PCAR3) reported that on Wednesday, October 7, 2026, the Court of the 3rd Bankruptcy and Judicial Reorganization Court of São Paulo ratified the company’s out-of-court recovery plan, which was submitted on May 5, 2026. The plan covers unsecured credits not related to current supply, service, or lease operations, in the total amount of R$ 4.568 billion, classified as Subject Credits.
According to the statement, GPA obtained the adhesion of creditors holding 57.49% of the Subject Credits, a percentage above the majority required by law. With the ratification, these credits are deemed novated and will be paid under one of three payment options chosen by the creditors, as provided for in Law No. 11,101/2005.
The company points out that the restructuring of the non-current unsecured liabilities set out in the plan, including the issuance of new debentures (debt securities issued by companies) and the raising of new funds, is aligned with the resizing of its capital structure. According to the material fact, this adjustment is expected to have a positive impact on GPA’s debt service and short-term liquidity.
Among the next steps, GPA will proceed with the actions necessary to implement the plan, including the execution of the instruments related to the new funds, totaling R$ 200 million, and of the instruments related to the Subject Credits. The company also states that its operations remain normal and that it is current with its obligations to suppliers, customers, and other partners, who are not part of the out-of-court recovery.
