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Covid-19 | Court orders bookstore under judicial reorganization to return stored books to suppliers due to pandemic
In a ruling issued by the 2nd Insolvency Court of São Paulo/SP, the bookstore company Saraiva, currently under judicial reorganization, we ordered to return books delivered in consignment by publishers.
The publishers argued the drastic decrease in sales in physical stores caused by the effects of the Covid-19 pandemic.
The Judge granted the request stating that the books would not have been delivered in consignment had the publishers known their sale would not be allowed in physical stores. Thus, the Judge authorized the withdrawal of 50% of Saraiva’s stock so that the publishers themselves may sell them by other means.
Saraiva has filed an interlocutory appeal against the ruling, which is pending analysis by the Court of Appeals of São Paulo.
The full decision can be accessed here.
