Ultrafarma to Shut Jabaquara Stores, Consolidate in 3,000 m² Concept Megastore

Overview

• The company will close all units on Avenida Jabaquara and concentrate physical operations in a single concept store in São Paulo’s North Zone.
• No dates were given for the closures or the opening of the new site, and the company did not disclose potential staffing effects.
• The 3,000 m² location will include an optical shop and a compounding pharmacy, with express delivery in Greater São Paulo and nationwide fulfillment from the Santa Isabel distribution center.
• The restructuring comes six months after Operação Ícaro, which arrested founder Sidney Oliveira and alleged a billion‑real scheme to expedite ICMS credits; he was later released.
• Industry sources report difficulty negotiating advance ICMS credits, tougher terms from suppliers and banks, and liquidity strain, while reports differ on the exact number of Jabaquara units.