Tostao ‘seeks admission in reorganization process to pay debts | Companies | Business

Given the difficult situation that the Tostao store chain is going through, on June 26, an application for admission to the business recovery process was presented to the Superintendency of Companies, its directors reported.

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The application for admission, planned for companies that may be viable, is given just at the time when several owners of premises where the stores operate complained about the lack of compliance in the payment of the leases by the company directors, but, in addition, in the midst of the complaints of said owners that in Tostao they do not face them to answer for those commitments they have made.

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In a statement, spokesmen for Tostao ‘Café & Pan, a company that emerged four years ago, explain that the purpose of availing themselves of this figure is “to determine the best way to pay the entire liability of the company. The greatest interest is that Tostao ‘Café & Pan passes this test in order to continue fulfilling its collaborators, allies and Colombians. “

They indicated that this situation is caused by the current pandemic, which has caused their sales to drop significantly. However, the company maintains a payroll of about 3,200 people and has sought different alternatives such as the sale of basic necessities and homes in order to stay afloat.

Spokespersons for the entity point out that “the beginning of this process shows the viability of the company and the continuity of the development of its corporate purpose. According to the above, Tostao ‘is committed to each of its creditors, once it is admitted by the Superintendency to the negotiation process, it will communicate directly with each of them, in order to inform how the process will be developed and the definition of the payment of outstanding obligations to date. “

The company indicated that in the midst of the current situation, which they have not been unaware of, they have been implementing various strategies to preserve the jobs of several of its collaborators, some of whom have been able to relocate to the Justo & Bueno stores.

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They also specified that they have made several alliances with companies such as and Rappi to meet orders, since they have created new business lines in order to stay afloat in the midst of the difficult situation.

“With respect and humility we ask all Colombians to continue trusting us. We are sure that the contingency will pass, that we will come out stronger and that with everyone’s support, we will achieve it, “said Helder Jacinto, Tostao’s general counselor.


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