With debt of R $500 mi, SHC, Sérgio Habib, asks for judicial recovery

He was one of the largest car dealers in the country, with 100 shops of different brands. Owner of a group that already had sales of RS $6 billion a year, came the launch of project a Chinese Auto plant in Bahia, budgeted at R $1 billion. Earlier this month, however, the Brazilian businessman Sergio Habib filed for judicial reorganization of your group, the SHC, which accumulated debts of R $517.7 million. On request with more than 6000 pages, the Group explains that their difficulties began after the economic crisis, which changed the company's plans, and was marked by the program Innovate-Auto, which imposed import quotas or extra payment of 30 percentage points of IPI. Impute, however, PSA Peugeot Citroën, company with which kept partnership for 28 years, the larger responsibility for the debts accumulated. The French group, in particular the Citroën-brand that he brought to the country in the years 90 and was the largest operator with 43 stores-will also be the subject of action for damages in the coming weeks, reported on Tuesday, 13, Habib, during launch, in São Paulo, the sport utility-T50, JAC Motors. Are Chinese brand vehicles that it sells in 20 dealerships left the group. Habib claims filed for judicial reorganization to preserve this operation, which he said is profitable, along with the sale of used cars. "We want to protect the operations of JAC Citroën's creditors," he said. Habib remembers that, in 2008, Citroën sold over 60000 vehicles, half of them through resales made of your group. The brand had 2.7% market share, that share is now below 1%. "This year, the sales won't reach 20000 vehicles". The brand was the most lost market in recent times, registering 80% drop in sales of 2011 here. It was also five years without releasing products (from 2013 to 2018), in a market increasingly disputed. From 2014, Habib began shutting down stores of Citroën, JAC, Volkswagen and Land Rover. In the process, told him, negotiated with the PSA and other groups rules laid down in Law Ferrari (which sets standards among manufacturers and distributors), how to acquire the stock of parts. In March, closed its last 12 shops of Citroën and Peugeot's two. "In this case there was no negotiation; I haven't been paid by review of cars under warranty nor took the pieces ". Contractwithout note, the PSA said that "always guided your actions by the highest ethical and moral standards, respecting strictly the contracts signed and the Brazilian law and, especially, the Ferrari Law and, with the Group SHC, was exactly how proceeded ". The manufacturer also said that soon after the end of the contract with Habib, was sought by groups that are branded resellers to stay with concessions and various shops will be reopened in the same regions. SHC Group's debts are with banks, suppliers of parts and labor and services (actions in Justice). The group already had 4000 employees and today has 700. "I hope I make judicial recovery in three to five years," said Habib. Partner of Dias Carneiro Advogados Office, Laura Bumachar, explains that the Group has two months to present a recovery plan and up to six months to negotiate payment with lenders . If you cannot, you have bankruptcy declared. The information is from the newspaper O Estado de s. Paulo.