April 25, 2022 |
Chinese investment firm Joining Futures Capital International has acquired the troubled Colombian discount retailer Justo & Bueno for an undisclosed amount, according to press reports.
Justo & Bueno, which was previously part of the Panamanian retail group Grupo Reve, started a restructuring process in January to avoid liquidation, local newspaper La República reported. Joining Futures will pay off all Justo & Bueno's debt by May 10 as part of the transaction, the newspaper said.
Hong Kong-based Joining Futures takes ownership of discount retailer Justo & Bueno and pledges to pay off debt by May 10