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Mexico's Comerci given new deadline for debt plan

Fri May 22, 2009 8:03pm EDT

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MEXICO CITY, May 22 (Reuters) - Mexican retailer Comercial Mexicana said on Friday that four key creditors have given it until May 27 to come up with a debt restructuring plan, according to a filing with the Mexican stock exchange.

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Massive derivatives losses led Comercial Mexicana to default on its debt in October. With the company running into a Friday deadline, it was the seventh extension given to Comerci (COMEUBC.MX) to present a plan to pay creditors.

Some analysts believe the company may be nearing an agreement with creditors. (Reporting by Jason Lange; Editing by Gary Hill)

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