Mexican retailer Comercial Mexicana has posted a first-quarter loss, hurt by debt payments, according to reports.
The company, Mexico’s third-largest supermarket chain, posted a loss of MXN61m (US$4m) between January and March, Reuters reported, compared to MXN439m in the year ago period.
Quarterly revenue increased 4.5% to MXN12.8bn although same-store sales in the period slipped 0.4%.
The retailer, known as Comerci, is in talks with creditors to restructure its debts of over US$2bn, which it defaulted on in October 2008.
Since December it has been locked in talks with creditors as it tries to restructure its debt while keeping business running, Reuters said.
Share this article
