This Tuesday, Grupo Famsa reported that at the end of 2022 it closed 99 stores and actually operates 69 establishments and warned that due to its complicated economic situation there is a possibility that it will no longer be able to operate.
“Given the limitation to obtain new resources, the company is at risk of not being able to maintain its operation,” he warned in a statement sent to the Mexican Stock Exchange.
After 44 years of operation in Mexico, Grupo Famsa currently operates only 69 stores. In its financial report corresponding to the third quarter of the year, the company warned about its complicated situationwith low sales, reduction in the granting of credit, which has a direct impact on its operation.
“The third quarter has represented a very complicated for Grupo Famsa and each of its subsidiaries, since the results obtained are a reflection of the affectation that the company has experienced in terms of income generationcaused by the lack of inventories to be able to make available to our clients an adequate supply of durable goods, the not being able to grant credit to them, the significant reduction of our branch network and the lack of resources allocated to advertising,” the company explained.
Al closing of the third quarter of 2022, the company recorded a net loss of 1,380 million pesos. Meanwhile, its consumer portfolio in Mexico has a net portfolio of reserves of 167 million pesos, which implied a decrease of 39.5% compared to the portfolio of 276 million pesos registered at the end of 2021.
“It should be noted that, as a result of the credit origination in Mexico Under the new business modality, a credit portfolio is not generated for Grupo Famsa or any of its subsidiaries,” the company explained.
What happens if you have a current credit with Famsa?
If in this moment some credit is being paid contracted previously at Famsa, you must continue to pay to avoid a negative note in the Credit Bureau and that causes a bank or other companies to deny access to credit.
In the opinion of the specialist Mario Di Costanzo, the current credits that Famsa still has in its portfolio they may default as long as the final destination of the company is known.
“Many people stop paying. As the formal closure of the store is announced you have to manage the portfolioit is reviewed, it is sold, but it will enter a period of at least one year in which some collection office looks for the client to continue paying,” he explained.
Get the latest news in your email
Everything you need to know to start your day
Registering implies accepting the Terms and Conditions