Comercial Mexicana has posted a fourth-quarter loss on the back of derivatives trading that had led to the Mexican retailer defaulting on its debt, according to reports.

The company, Mexico’s third-largest supermarket chain, booked a quarterly loss of MXN4.28bn (US$304.6m), compared with a profit of MXN1.12bn a year earlier, Reuters said.

The retailer, known as Comerci, is in talks with creditors to restructure its debts of over US$2bn., Reuters said.