By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The number of companies in Brazil seeking judicial recovery in 2016 set a record according to data released by Serasa Experian, a credit and business research company. In all 1,770 companies that sought bankruptcy protection through judicial recovery plans, the highest number since the consultancy started the survey, in 2005.

“The deepening of the economic recession in 2016 has significantly affected household consumption, both through rising unemployment and rising credit. Thus, retail trade was the economic sector that ended up suffering more intensely the decline in consumption, causing financial . . .

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