Americanas Caps 8-Day Spiral With Bankruptcy Filing in Brazil

Americanas SA, the Brazilian retailer backed by billionaire Jorge Paulo Lemann, filed for bankruptcy protection at a court in Rio de Janeiro citing liabilities of about 43 billion reais ($8.2 billion).

The filing comes just days after the disclosure of 20 billion reais of accounting “inconsistencies” on Jan. 11, which sparked a massive sell-off in its stocks and bonds. It also led creditors to block deposits and ask for early redemption of debts, leaving the company almost without cash for basic operations.

The company had said earlier it could file for bankruptcy protection this Thursday. CNN Brasil and G1 ...