The trajectory of the department store Leader, who was born on Rio de Janeiro soil, is now witnessing a very complicated period. Of the approximately 30 stores, the retail chain currently has only 6 in operation in the city of Rio. The brand faces major challenges after closing even its first unit, located in Miracemain Northwest Fluminense, after 71 years of operation.
Controlled by investment bank BTG Pactual Until 2016, Leader faced a financial crisis that culminated in the retail chain filing for bankruptcy. The amount of debt, which reached the mark of 1 billion reais, included family claims Furlanowner of the São Paulo chain of stores Selleracquired by Leader in 2013. Controversy over a late payment of 9 million reais triggered the process.
In 2020, the company negotiated a judicial recovery plan with its creditors, aiming to resolve the colossal debt. Two years later, the Attorney General of the State of Rio de Janeiro (PGE-RJ) signed an agreement to implement a plan to amortize Leader’s active debt, totaling 810 million reais, to be paid over 180 months.
Today, the remaining Leader stores in the city of Rio are located in North Shopping, Shopping Via Brasil, Taquara, Bonsucesso, Saint Cristopher and in center. However, units previously present in large shopping malls in Rio, such as New America, ParkShopping, BarraShopping, Shopping Tijuca, Carioca Shopping, Via Parque, Boulevard Rio, Botafogo Beach It is Bangu Shoppingas well as street stores in Madureira, Copacabana, Botafogo, Catete, Large field It is Lapa, closed their doors, leaving a trail of unemployment and perplexity among the population. Many were installed in large commercial properties that remained closed, with leasing difficulties.
The most recent closures were of the Conde de Bonfim Streetat Tijucaa week ago, and the Shopping Metropolitano Barra.
Its huge branch in the Center occupies almost 5,000 m2 of the former store of the famous Sloper magazine, a department store in Uruguaiana Streetright on the corner of Rua do Ouvidor. It is one of the largest stores in the center of Rio, with elevators and escalators, right on the best moment on the street in 4 yearsnow that, finally, the illegal street vendors that harmed the famous commercial spot have been finally ripped off and stopped selling illegal, stolen and smuggled merchandise. Still, information shows that Leader owes more than a year’s rent, and would not even pay the condominium.
Former employees, affected by the rapid closure, have taken to social media to demand unpaid wages and express their frustrations with the layoffs. Leader was forced to restrict access to comments on its publications, in an attempt to contain the influx of complaints.
It is worth noting that Leader was the official sponsor of Rock In Rio in the 2011, 2013, 2015, 2017 and 2019 editions. The store launched, in all editions, exclusive collections for the event. Furthermore, the brand was immortalized with the jingle “It’s already Christmas”, remembered by many Cariocas as a symbol of the beginning of the end of the year festivities. The commercial has not been linked on TV since 2021.
It is evident that the brand, which was once a pioneer in fashion and clothing in Brazil, stagnated at a crucial moment, while its competitors were consolidating themselves in the national fashion market. The situation extends beyond the limits of the capital, also affecting other municipalities in the Metropolitan Region, such as New Iguaçu, Nilópolis, Shopping Grande Rio, Niterói, Sao Goncalo, Sissy boy It is Petrópolis.
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