AgroGalaxy Drops as Distress-Related Costs Boost Loss (1)

AgroGalaxy Participacoes SA, a Brazilian agricultural supplies retailer that sought creditor protection last year, plunged the most in more than a month as its third-quarter loss widened because of expenses related to the bankruptcy process.

The loss was 1.6 billion Brazilian reais ($265 million), roughly 18 times its loss a year earlier, the company said Monday. AgroGalaxy had postponed the earnings release twice.

AgroGalaxy has been struggling with tumbling grain prices, high interest rates and adverse weather events, but most of the third-quarter loss was related to the judicial recovery process, including expenses from selling its portfolio of clients ...