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Peruvian Tycoon Hit With Wave of Shop Closures in Wealthy Lima Area
MINT· 2026-02-16 20:10
Core Viewpoint - A conflict has arisen between Intercorp, a major Peruvian conglomerate, and the local government of Miraflores, Lima, following the temporary closure of approximately 15 of its commercial spaces due to alleged safety violations [1][3]. Group 1: Company Overview - Intercorp is led by billionaire Carlos Rodríguez-Pastor and owns significant assets including Peru's third-largest bank, Interbank, and various retail and commercial chains [2]. - The conglomerate operates through subsidiaries such as Intercorp Financial Services Inc and Inretail Peru Corp, which manage banks and malls respectively [2]. Group 2: Incident Details - The closures began last week and affected various types of businesses, including banks, retail stores, restaurants, and movie theaters in the Miraflores neighborhood [1]. - The local mayor, Carlos Canales, stated that the closures were due to "critical" safety issues found during inspections, which he claimed were random [2][5]. Group 3: Legal and Regulatory Context - While Lima's municipalities have the authority to close businesses for local code violations, the scale of the closures targeting a single owner is considered unusual [3]. - Intercorp has contested the legality of the closures, asserting that they lack a technical or legal basis and coincided with a dispute over a canceled real estate deal with the municipality [3][4]. Group 4: Safety Concerns - The municipality cited safety concerns, including unreported gas cylinders at some Intercorp locations, and referenced a past incident involving a fatal roof collapse at a mall owned by an Intercorp subsidiary as a reason for heightened scrutiny [5]. - The exact status of the closures remains unclear, with reports indicating that some businesses, such as a movie theater chain, were not operational as of the latest updates [6]. Group 5: Industry Response - Several Peruvian business associations have expressed concerns regarding the fairness and proportionality of the closures, advocating for adherence to reasonable standards [6].