Asset freeze forces JBS slaughterhouse closures - leatherbiz: Leading Leatherbiz

News

Asset freeze forces JBS slaughterhouse closures

20/10/2017
Packer and tanning group JBS has announced it has temporarily shut down seven slaughterhouses in the Brazilian state of Mato Grosso do Sul after a court ordered a combined 730 million reais ($230.64 million) of its assets to be frozen.

Reuters has reported that the asset freeze, which affects JBS and its parent company J&F Investimentos, is related to an investigation into alleged tax irregularities. This is believed to involve tax benefits given to the company by the state.

JBS said in a statement that the plants will stay closed until the matter is resolved. It added it will continue paying employees as normal. 

Related stories:

JBS Couros focuses on versatility in new collection 15/02/2018
JBS still wants to float international division in the US 11/12/2017
Operations resume at JBS slaughterhouses 24/10/2017
JBS puts New York IPO of international division on hold 18/10/2017
JBS owners charged with insider market trading 12/10/2017
JBS founder returns as company president 19/09/2017
New arrest at JBS as chief executive is taken into custody 13/09/2017
JBS owner arrested 12/09/2017
JBS boss still hopes New York flotation can go ahead 18/08/2017
JBS Q2 results include no independent auditor’s report 15/08/2017
JBS hires “globally recognised expert” to run food safety 04/08/2017
Mexican firm emerges as JBS asset purchaser 02/08/2017
JBS concludes beef plants sale to Minerva 01/08/2017
JBS calls extraordinary general meeting 28/07/2017
JBS sale of packer plants to go ahead 17/07/2017
JBS sees appeal over asset sales rejected 05/07/2017
New compliance programme says JBS will ‘always do the right thing’ 29/06/2017

Leatherbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.