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.