Bankruptcy Brings Uncertainty for Brazilian Appliance Company Mabe
The Brazilian appliance manufacturer Mabe filed for bankruptcy protection in May of 2013 after several slow years. The company, which is the third largest player in Brazil behind Electrolux and Whirlpool, was forced to halt production for three months after the announcement and shut down a manufacturing plant in Sao Paulo. The company recently submitted a restructuring plan to the Brazilian government, but time is running out for Mabe to fulfill its creditor obligations and many shareholders have already backed down. It’s likely that by the end of the year Mabe, will be the target of a merger or acquisition.
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