Brazil’s rice Bran Technology company, which makes the high-protein powder used in many popular soups and stews, is to close its doors in 2019.
The news comes as the Brazilian government has been in the midst of a scandal involving bribery allegations, with allegations that Brazil’s then-president Michel Temer was paid millions of dollars to secure votes.
Rice Bran has been under investigation for years.
The company was founded in Brazil in 2001.
It made rice Bran in a factory in the state of Bahia, but it moved to a new factory in São Paulo in 2011, according to the company.
The Brazilian government initially rejected the company’s request for bankruptcy protection, but in 2017, it approved the company for bankruptcy, saying that the company was unable to meet its financial obligations.
The company’s creditors are demanding an annual payment of $200 million.
A company spokesman said that the closure would be made public in 2020.
“The announcement was made at a press conference held by the company, after which all relevant stakeholders were informed,” the spokesman said.
The news comes at a critical time for Brazil, which has been struggling with an outbreak of coronavirus, with nearly 50,000 cases reported so far.
More than 50 people have died from the virus in Brazil since it first emerged in February.