A Portuguese furniture and home décor chain is confronting a severe financial crisis, with debts exceeding 49.5 million euros, according to the provisional list of creditors. The company, acquired by the Aquinos Group in 2020, has filed for a Special Revitalization Procedure (PER) to prevent collapse and maintain operations.
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The provisional creditor list for Loja do Gato Preto includes around 300 parties, with the Aquinos Group as the main creditor at 26 million euros. Employees are owed approximately 1.6 million euros, while banks such as BBVA, Novo Banco, Caixa Geral de Depósitos, and Montepio are among the major financial claimants. The judicial administrator, Jorge Calvete, confirmed the transparency of the proceedings.
The crisis is attributed to "economic and financial pressures" affecting the furniture sector, compounded by declining consumption and rising operational costs. Managers stated that the PER is "necessary to cope with and guarantee the continuity of their business" and could involve a review of the operational model, closure of underperforming stores, and digitalisation of sales channels.
Founded as a brand renowned for creativity and Iberian style, Loja do Gato Preto operates 39 stores in Portugal and Spain, with 248 employees. Analysts warn that without a credible recovery plan, the company risks closure, threatening a historic Portuguese brand.
Source: www.radiom24.pt
