retail company famespecialized in the sale of furniture, electronic items and white goods, closed his last store located in the center of Monterrey last March 31.
The store had been running a sale with discounts of up to 70 percent on all items a week before it closed.
The revocation of Banco Famsa’s license to operate as a multiple bank institution in June 2020 by the Bank Savings Protection Institute (IPAB) and the National Banking and Securities Commission (CNBV) was the beginning of Banco Famsa’s financial problems. fame.
In February 2022, Grupo Famsa concluded a commercial bankruptcy and tried to recover its business with an initial investment of 1.2 billion pesos.
Despite the efforts, liquidity problems persisted, leading Grupo Famsa to close 99 stores in 2022. The company explained that the closures were necessary due to a lack of cash flow to cover operating expenses, including the payment of rent for premises, software licenses and information technology infrastructure. The company ended the year 2022 with 66 stores in operation.
The pandemic, the granting of loans to customers who could not pay and the financial fragility in the United States were some of the factors that led Famsa to its current situation, according to Julián Fernández, head of Analysis at Bursametrica.
In addition, the closure and sale of branches in both countries, which generated more expenses than revenue, also contributed to the company’s difficult financial situation.
The financial problems began in June 2020 when Banco Famsa’s license was revoked.
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