Farmácia do Trabalhador in talks to raise new capital from investors
Pernambuco-based drugstore chain Farmácia do Trabalhador is in talks to raise new capital from investors after approving a judicial reorganization plan. The company, which had 1,100 stores and revenues of about R$1 billion in 2014, closed 810 units since then after larger chains Drogasil and Drogaria São Paulo expanded across the Northeast region. With a debt of more than R$150 million, Farmácia do Trabalhador filed for judicial recovery in mid-2019 and debt restructuring was approved by creditors this month. According to Marcus Vasconcellos, from ARM Gestão, a...
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