Portuguese home décor and furniture chain O Gato Preto has entered a Special Revitalisation Process (PER) in an attempt to avoid bankruptcy and secure the future of its 39 stores. The move follows losses of €15m in 2024 and comes amid what the company described as "economic and financial pressures" that demand a "profound review" of its operating model.
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Acquired by Grupo Aquin in 2020, O Gato Preto operates 31 stores in Portugal and eight in Spain. The brand employed 248 staff in 2024, a sharp decline from 371 two years earlier. In a statement, the company said PER is "a necessary measure to face and ensure the continuity of its activity" and would allow it to preserve jobs, restructure financial obligations, and maintain service for customers, suppliers, and partners.
The retailer stressed that the process aims to stabilise operations and revitalise the business despite wider pressures on Portugal's specialist retail sector. It added that keeping stores open remains the priority as it seeks solutions to recover from sustained financial difficulties.
The outcome of the PER will be critical in determining whether O Gato Preto can continue trading under its current structure.
Source: www.nit.pt
