Raízen (RAIZ4), GPA (PCAR3)… corporate recovery filings set to worsen in 2026, and the Selic cut barely dents the debt

Following the extrajudicial recovery filings by GPA and Raízen, the latter the largest of its kind in Brazil at about R$65 billion in debt, Seu Dinheiro hears experts who expect more recovery filings in 2026, even as the Selic starts to come down. Ricardo Jacomassi, partner at TCP Partners, described as a consultancy affiliated with BTG Global Advisory, says TCP had anticipated the wave, but it arrived about six months earlier than expected. “Interest rates are destroying companies,” he says.

Source: Seu Dinheiro, March 25, 2026.