Grupo Gênios secures 60-day debt suspension for Habib's and Ragazzo

Grupo Gênios, the controlling group of the Habib's and Ragazzo restaurant chains, has obtained a judicial injunction in São Paulo to suspend debt collections for 60 days. This measure aims to allow the company to renegotiate liabilities exceeding R$ 300 million without the immediate risk of asset seizure.

The group, which operates over 300 restaurants across approximately 90 Brazilian cities, has not yet entered formal judicial recovery. Instead, the court-granted protection provides a window for mediation through the Center for Judicial Conflict and Citizenship (Cejusc) in Santo Amaro. If an agreement is reached with banks and other creditors within this period, the group may avoid a formal bankruptcy recovery process.

The financial crisis is attributed to several factors, including the impact of the pandemic on physical store traffic, rising inflation affecting ingredient costs, and increased competition from delivery apps. Founder Alberto Saraiva acknowledged past management shortcomings regarding expense control and stated the company is now focusing on austerity and transitioning to more efficient, smaller store formats to restore profitability.