Casas Bahia, one of Brazil's largest retail chains, asked a São Paulo court on Monday to order Banco do Brasil, the country's largest state-controlled bank, to return 422 million reais (roughly $80 million) that the bank withdrew unilaterally from the retailer's accounts. The request, first reported by newspaper Folha de S.Paulo and confirmed by outlet Poder360, is part of Casas Bahia's ongoing court-supervised bankruptcy protection process, known in Brazil as "recuperação judicial," a legal mechanism similar to Chapter 11 that lets distressed companies renegotiate debt while continuing to operate.

According to the court filing reviewed by Folha, Banco do Brasil had acted as guarantor on contracts Casas Bahia held with two suppliers, Apple and insurer Mapfre Seguros. After Casas Bahia filed for bankruptcy protection, those suppliers reportedly called in the guarantees. The bank paid them and then, on Friday, debited the equivalent amount from Casas Bahia's accounts to reimburse itself, the retailer's lawyers say.

Casas Bahia argues the bank should not have collected the money that way, because the underlying debt is subject to the rules of the bankruptcy proceeding rather than being recoverable through a direct account debit. "Several of these creditors have already begun a real 'race' to satisfy their claims individually, outside the terms of the restructuring plan," the company says in the filing, according to Poder360. Casas Bahia's lawyers argue Banco do Brasil should have taken any dispute over the guarantees to court instead of deducting the funds directly. Banco do Brasil and Apple both declined to comment.

A wider cash squeeze

The filing also describes other restrictions the retailer says it is facing. It claims investment bank BTG Pactual has blocked transactions and balance inquiries on Casas Bahia's accounts, while card payment processors Cielo, Getnet and Redecard are withholding funds from card sales. Casas Bahia says the processors are holding back money as a precaution against customers canceling purchases out of concern over the bankruptcy filing.

Casas Bahia posted a loss of 10.1 billion reais in the second quarter of 2026 and, with losses of 11.2 billion reais for the year, filed for bankruptcy protection on August 16 to restructure 17.3 billion reais in debt, according to its quarterly results. On August 19, a São Paulo bankruptcy court partially granted the company's requests and ordered an independent assessment of its finances and operations, though it has not yet ruled on the bankruptcy filing itself. The same month, the retailer announced the closure of 298 stores and laid off roughly 1,900 workers between August 13 and 17, dismissals a labor court has since suspended provisionally. For suppliers and creditors, the dispute shows how contested every real left in Casas Bahia's accounts has become. For shoppers, the outcome will help determine whether the chain's remaining stores keep operating with normal stock or face further closures as the financial squeeze continues.