Court approves request for judicial recovery from owner of Tok&Stok and Mobly

Mobly makes an agreement to buy control of Tok&Stok.
Reproduction/ Mobly / Tok&Stok
The Toky Group, owner of Tok&Stok and Mobly, stated this Monday (15) that the Court approved the request for judicial recovery of the company and its subsidiaries. The request had been made at the 3rd Bankruptcy and Judicial Recovery Court of the Central Civil Court of the State of São Paulo.
The company, owner of the furniture stores Tok&Stok and Mobly, filed for judicial recovery in May this year, citing debt in excess of R$1 billion.
At the time, the company pointed to a challenging macroeconomic environment, especially for the furniture and decoration retail sector, characterized by factors such as still high interest rates and a higher level of family debt.
*This report is being updated
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Source: G1