Americanas’s bankruptcy raises more questions

As the Brazilian retailer Americanas filed for Chapter 15 in New York at the end of last week, two weeks after it had announced a US$3.9bn hole in its accounts, its parlous state is raising many questions. The US$3.9bn hole was revealed by its auditor, PwC, which had identified “accounting inconsistencies” amounting to US$8.3bn.

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