Americanas Managers Presented Conflicting Debt Information (2)

The management team at Brazilian retailer Americanas SA told its external auditor and internal auditing committee as late as December 2022 that there were no supply-chain financing operations taking place at the firm.

At the same time, executives gave the securities regulator CVM conflicting information, and a central bank system showed the account registering supply chain financing at the firm had ballooned to almost 17 billion reais ($3.2 billion).

Just weeks later, a new chief executive officer unveiled massive accounting inconsistencies that led to a historic collapse for the Rio de Janeiro-based firm.

Documents seen by Bloomberg News provide the ...