Ribeiro warns it cannot pay debt

Ribeiro warns it cannot pay debt

Debt Corporate & Sovereign Strategy Loans Bonds Regulation Argentina Latin America Coronavirus

Minicuotas Ribeiro, a chain of home goods stores in Argentina, said it was unable to make interest payments on two bonds last week as sales tumbled during a government-imposed lockdown of the economy to try to prevent the spread of coronavirus. "There has been a substantial reduction in sales and, consequently, of the company’s income," CEO Manuel Ribeiro said in a securities filing on Friday. The company, which did not provide details on the bonds or interest payments, is one of the first to ad

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