Founder of Justo & Bueno receives $100 million fine from Supersocietats

Last week, the continuation of the Justo & Bueno liquidation process was ordered. This, because the Superintendence of Societies did not receive a bailout offer by the investors who had said they would put in the 300 billion pesos the chain needed to continue operating.

The liquidator manager, Darío Laguado, issued a delivery schedule for the premises that must not exceed 20 calendar days. The idea is that the owners of the properties can regain control of them peacefully, in order to avoid affecting third parties.

(Also read: A dead king, a king in place: due to the liquidation of Justo & Bueno, a new supermarket would be born)

That's how Justo & Bueno goes into free fall in its liquidation. However, in a letter addressed to landlords, suppliers and employees, Alfonso Giraldo - investor who would save the supermarkets -, shed light on the possible creation of a new chain of stores.

The Superintendence of Companies imposed a fine of 100 million pesos on Michel Olmi Bustosfounder of the chain of stores, who is currently listed as director, president and/or legal representative of Reve Group, announced Setmana.

According to the entity, Olmi did not meet any of the requirementsa fact that constitutes a "serious obstacle for the development of the administrative investigation, tending to determine the configuration of control situations or business groups that link BBI Colombia SAS, BBI Colombia Brands SAS, Cafès d'Origen Especial SAS and Mercaderia SAS to Liquidation Judicial, among others".

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In this sense, the Superintendent of Companies, Billy Escobar, adds a new decision to the novel that has led to the liquidation of Justo & Bueno.