Chilean regulators have suspended trading in shares in Chilean supermarket chain Santa Isabel after it failed to report 2002 earnings within the established deadline.
Santa Isabel, controlled by troubled Dutch retailer Royal Ahold, was required to post its earnings with the Stock and Securities Superintendency by midnight on Monday, but missed the deadline. Ahold said today [Wednesday] that the publication of Santa Isabel’s results was delayed after auditors said they first wanted to resolve some “outstanding issues”.
“Auditors said they could not sign the figures by the date that they were due because there were some residual issues that needed to be resolved,” an Ahold spokesperson was quoted by Reuters as saying.
Ahold is currently in the process of selling Santa Isabel to Chilean retail group Cencosud.