July 3, 2020 |
Argentine retailer Minicuotas Ribeiro said on Thursday it failed to make a principal payment on a bond, pushing it deeper into financial problems as a coronavirus-induced lockdown of the economy cuts sales.
The company had already missed interest payments on 16 notes, taking the count to 17, according to a securities filing.
"We estimate that this situation will remain during the rest of 2020," CEO Manuel Ribeiro said in the filing.
The latest missed payment comes after the government announced
Argentine home goods retailer fails to pay principal on local notes as a lockdown continues to slash sales