La Polar is the fourth largest retail company in Chile

Chile

Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...

, behind Falabella

S.A.C.I. Falabella

Falabella is a Chilean second largest retail company that operates its flagship Falabella department stores in addition to Mall Plaza shopping centers, Tottus supermarket, Banco de Falabella banks, and Sodimac home improvement centers...

, Paris S.A and Ripley S.A.

The company has more than 30 stores in Chile with products focused on the Chilean middle class.

La Polar offers products including clothing and technology products.

Renegotiated customers' debt without consent

On 17 June 2011 Chile's Superintendencia de Valores y Seguros (securities regulator) indefinitely suspended trading in Empresas La Polar SA pending an investigation after La Polar announced it would have to provision an additional $430 million due to irregularities in its store-credit department.

External links

• "Llegar y llevar", el escándalo de los almacenes chilenos La Polar in Spanish newspaper El País on 20 June 2011, retrieved on 20 June 2011 in Spanish language