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Deals

Mexico's Grupo Famsa cancels Chapter 11 bankruptcy proceedings for 2020 bond holders

FILE PHOTO: The logo of Banco Ahorro Famsa, the savings bank arm of retailer Grupo Famsa, is seen at a branch in Ciudad Juarez, Mexico July 2, 2020. REUTERS/Jose Luis Gonzalez

MEXICO CITY (Reuters) - Mexican retailer Grupo Famsa GFAMSAA.MX on Friday said it was withdrawing U.S. Chapter 11 bankruptcy proceedings for the holders of its bond notes expiring in 2020.

The retailer added that the proceedings would continue for its other debt, with the next hearing on July 28.

Reporting by Abraham Gonzales, Noe Torres and Diego Ore; Writing by Drazen Jorgic; Editing by Sandra Maler

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