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{{Short description|Mexican retail company, 1970–2023}}
{{Infobox company
{{Infobox company
| name = Grupo Famsa S.A.B. de C.V.
| name = Grupo Famsa S.A.B. de C.V.
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| traded_as = {{BMV|GFAMSA A|5866}}
| traded_as = {{BMV|GFAMSA A|5866}}
| foundation = {{start date and age|df=yes|1970||}}
| foundation = {{start date and age|df=yes|1970||}}
| fate = Bankruptcy (only 3 stores remains open)<ref>{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref>
| fate = Bankruptcy<ref name="bloomberglinea.com">{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref>
| defunct = {{end date and age|df=yes| March 31 2023||}}<ref>{{cite web | url=https://www.informador.mx/economia/Famsa-a-punto-de-desaparecer-Debo-seguir-pagando-mi-credito-20230111-0090.html | title=Famsa, a punto de desaparecer: ¿Debo seguir pagando mi crédito? }}</ref>
| defunct = {{end date and age|df=yes|2023|03|31}}<br>(México only)<ref>{{cite web | url=https://www.informador.mx/economia/Famsa-a-punto-de-desaparecer-Debo-seguir-pagando-mi-credito-20230111-0090.html | title=Famsa, a punto de desaparecer: ¿Debo seguir pagando mi crédito? }}</ref>
| location = [[Monterrey]], [[Mexico]]
| location = [[Monterrey]], [[Mexico]]
| key_people = Humberto Garza González, ([[Chairman]]) <br> Humberto Garza Valdéz, ([[CEO]])
| key_people = Humberto Garza González, ([[Chairman]]) <br> Humberto Garza Valdéz, ([[CEO]])
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[[File:Famsa38Bellaire.JPG|thumb|Famsa location #38 Bellaire, in the [[Gulfton]] area in [[Houston]]]]
[[File:Famsa38Bellaire.JPG|thumb|Famsa location #38 Bellaire, in the [[Gulfton]] area in [[Houston]]]]


'''Grupo Famsa''' is a Mexican retail company that owns Famsa department stores, the company was one of the most important retail stores in Mexico. In 2023, the company has operations in [[Texas]] with 21 stores and 21 personal loan branches.<ref>{{Cite web |title=Store List – FAMSA Locations |url=https://locations.famsafurniture.com/store-list/ |access-date=2023-04-09 |language=en-US}}</ref>
'''Grupo Famsa''' was a retail company engaged in the purchase and sale of household appliances, electronic products, furniture, clothing and other consumer products in Mexico and [[United States]]. Today the company has 379 stores in 78 Mexican cities and 22 stores in [[Texas]] and [[Illinois]], where 23 % of the Hispanic population of the USA resides.<ref>{{Cite web|url=https://www.grupofamsa.com/en/famsa-usa|title=Famsa &#124; FAMSA USA}}</ref> The company has its headquarters in [[Monterrey]], Mexico.<ref>"[http://www.grupofamsa.com/index_eng.php?temp=cto Contact] {{Webarchive|url=https://web.archive.org/web/20120426085449/http://www.grupofamsa.com/index_eng.php?temp=cto |date=2012-04-26 }}." Grupo Famsa. Retrieved on January 2, 2011. "Corporate Offices: Ave. Pino Suárez No. 1202 nte. Zona Centro C.P. 64000 Monterrey, N.L., México"</ref>


It also manufactures furniture and provides banking and credit services, including personal car financing through its [[Banco Ahorro Famsa]]. The bank has 359 banking branches within its stores in Mexico.<ref>{{Cite web|url=https://www.grupofamsa.com/en/famsa-mexico|title=Famsa &#124; FAMSA MEXICO}}</ref> In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.<ref name="MorenoFamsa">Moreno, Jenalia. "[http://www.chron.com/CDA/archives/archive.mpl?id=2006_4174221 Shopping / Retailer pushes north / Famsa chain from Mexico finds growth in the U.S.]" ''[[Houston Chronicle]]''. Sunday August 20, 2006. Business 1. Retrieved on March 4, 2010.</ref>
Until 2022 the company had 379 stores in 78 Mexican cities and 22 stores in [[Texas]] and [[Illinois]], where 23% of the Hispanic population of the USA resides.<ref name="Famsa">{{Cite web|url=https://www.grupofamsa.com/en/famsa-usa|title=Famsa {{pipe}} FAMSA USA}}</ref> The company has its headquarters in [[Monterrey]], Mexico.<ref>"[http://www.grupofamsa.com/index_eng.php?temp=cto Contact] {{Webarchive|url=https://web.archive.org/web/20120426085449/http://www.grupofamsa.com/index_eng.php?temp=cto |date=2012-04-26 }}." Grupo Famsa. Retrieved on January 2, 2011. "Corporate Offices: Ave. Pino Suárez No. 1202 nte. Zona Centro C.P. 64000 Monterrey, N.L., México"</ref>


It also manufactured furniture and provides banking and credit services, including personal car financing through its [[Banco Ahorro Famsa]]. The bank had 359 banking branches within its stores in Mexico until 2020 when the service was liquidated.<ref>{{Cite web|url=https://www.grupofamsa.com/en/famsa-mexico|title=Famsa {{pipe}} FAMSA MEXICO}}</ref> In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.<ref name="MorenoFamsa">Moreno, Jenalia. "[http://www.chron.com/CDA/archives/archive.mpl?id=2006_4174221 Shopping / Retailer pushes north / Famsa chain from Mexico finds growth in the U.S.]" ''[[Houston Chronicle]]''. Sunday August 20, 2006. Business 1. Retrieved on March 4, 2010.</ref>
⚫
In addition, Famsa is in the footwear catalog business. The company serves wholesale and retail customers through retail branches and wholesale warehouses. The company was founded in 1970 in [[Monterrey]].<ref>{{Cite web|url=https://www.grupofamsa.com/en/famsa-usa|title=Famsa &#124; FAMSA USA}}</ref><ref>{{Cite web|url=https://www.famsa.com/quienes-somos|title = Quienes-somos - FAMSA}}</ref>


⚫
In addition, Famsa is in the footwear catalog business. The company serves wholesale and retail customers through retail branches and wholesale warehouses. The company was founded in 1970 in [[Monterrey]].<ref name="Famsa"/><ref>{{Cite web|url=https://www.famsa.com/quienes-somos|title = Quienes-somos - FAMSA}}</ref>
⚫
In 2023, Grupo Famsa closed many stores, the 3 Famsa stores remains opened with the possible ceasing operations.<ref>{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref>

⚫
In 2023, Grupo Famsa closed 69 stores, the 3 remaining Famsa stores remained opened with the last one in Colón avenue closing on March 31, 2023.<ref name="bloomberglinea.com">{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref><ref name="Milenio">{{cite web | url=https://www.milenio.com/negocios/famsa-cierra-tienda-monterrey-operar-50-anos |title=Famsa cierra tienda en Monterrey, la última tras operar por mas de 50 años |publisher=[[Milenio]] | date=31 March 2023 |access-date=1 April 2023}}</ref>

In 2023 the chain only remains in Texas with 21 Famsa Furniture stores and 21 personal loan branches by Famsa Loans and Famsa Financial.<ref>{{Cite web |title=Store List – FAMSA Locations |url=https://locations.famsafurniture.com/store-list/ |access-date=2023-04-11 |language=en-US}}</ref>


==History==
==History==
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On 26 June 2020 Grupo Famsa reported in a statement to the [[Mexican Stock Exchange]] that it filed a voluntary application under [[Chapter 11, Title 11, United States Code|Chapter 11]] of the Bankruptcy Code of the United States<ref>{{Cite news|url=https://www.explica.co/famsa-files-for-bankruptcy-to-seek-restructuring/|title=Famsa files for bankruptcy to seek restructuring|date=2020-06-27|access-date=2020-06-27}}</ref>
On 26 June 2020 Grupo Famsa reported in a statement to the [[Mexican Stock Exchange]] that it filed a voluntary application under [[Chapter 11, Title 11, United States Code|Chapter 11]] of the Bankruptcy Code of the United States<ref>{{Cite news|url=https://www.explica.co/famsa-files-for-bankruptcy-to-seek-restructuring/|title=Famsa files for bankruptcy to seek restructuring|date=2020-06-27|access-date=2020-06-27}}</ref>


In an August 6 2020 a shareholder meeting authorized a request to file for Chapter 15 Bankruptcy in the United States and bankruptcy in Mexico.<ref>{{Cite news|url=https://www.theguardian.pe.ca/business/reuters/mexicos-grupo-famsa-files-for-bankruptcy-in-united-states-and-mexico-482453/|title=Mexico's Grupo Famsa files for bankruptcy in United States and Mexico (Reuters)|date=2020-08-06|access-date=2020-08-06}}</ref>
In an August 6, 2020 a shareholder meeting authorized a request to file for Chapter 15 Bankruptcy in the United States and bankruptcy in Mexico.<ref>{{Cite news|url=https://www.theguardian.pe.ca/business/reuters/mexicos-grupo-famsa-files-for-bankruptcy-in-united-states-and-mexico-482453/|title=Mexico's Grupo Famsa files for bankruptcy in United States and Mexico (Reuters)|date=2020-08-06|access-date=2020-08-06}}</ref>


In 2023, Famsa closed their stores in Mexico only 3 stores open.<ref>{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref>
In 2023, Famsa closed their stores in Mexico only 3 stores open.<ref name="bloomberglinea.com">{{cite web | url=https://www.bloomberglinea.com/2023/02/26/famsa-cierra-casi-todas-sus-tiendas-en-mexico-mantiene-3-en-operacion/?outputType=amp | title=Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación | date=26 February 2023 }}</ref>


Finally on March 31 2023, Famsa closed it's final and first location in Monterrey, Ending the 53 year old chain.<ref>{{cite web | url=https://www.milenio.com/negocios/famsa-cierra-tienda-monterrey-operar-50-anos | date=31 March 2023 }}</ref>
Finally on March 31, 2023, Famsa closed its final and first location in Monterrey, Ending the 53 year old chain, as of December 16, 2023, Famsa had stores in the US.<ref name="Milenio"/>


==See also==
==See also==
{{Portal|Mexico|Companies}}
{{Portal|Mexico|Companies}}
* [[CLABE]]
* [[CLABE]]
{{-}}
{{Clear}}


==References==
==References==
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[[Category:Companies listed on the Mexican Stock Exchange]]
[[Category:Companies listed on the Mexican Stock Exchange]]
[[Category:Companies that have filed for Chapter 15 bankruptcy]]
[[Category:Retail companies of Mexico]]
[[Category:Retail companies of Mexico]]
[[Category:Mexican brands]]
[[Category:Mexican brands]]

Latest revision as of 01:32, 7 December 2024

Grupo Famsa S.A.B. de C.V.
Company typePublic
BMV: GFAMSA A
IndustryRetail
Founded1970; 55 years ago (1970)
Defunct31 March 2023; 21 months ago (2023-03-31)
(México only)[1]
FateBankruptcy[2]
HeadquartersMonterrey, Mexico
Key people
Humberto Garza González, (Chairman)
Humberto Garza Valdéz, (CEO)
ProductsFinancial services
RevenueIncrease US$ 1.1 Billion (2009)
Decrease US$ 7.8 Million (2009)
Number of employees
18,000
Websitewww.grupofamsa.com
www.famsa.com
Famsa location #38 Bellaire, in the Gulfton area in Houston

Grupo Famsa is a Mexican retail company that owns Famsa department stores, the company was one of the most important retail stores in Mexico. In 2023, the company has operations in Texas with 21 stores and 21 personal loan branches.[3]

Until 2022 the company had 379 stores in 78 Mexican cities and 22 stores in Texas and Illinois, where 23% of the Hispanic population of the USA resides.[4] The company has its headquarters in Monterrey, Mexico.[5]

It also manufactured furniture and provides banking and credit services, including personal car financing through its Banco Ahorro Famsa. The bank had 359 banking branches within its stores in Mexico until 2020 when the service was liquidated.[6] In Famsa locations in the United States, customers can order deliveries of goods to locations in the United States and Mexico.[7]

In addition, Famsa is in the footwear catalog business. The company serves wholesale and retail customers through retail branches and wholesale warehouses. The company was founded in 1970 in Monterrey.[4][8]

In 2023, Grupo Famsa closed 69 stores, the 3 remaining Famsa stores remained opened with the last one in Colón avenue closing on March 31, 2023.[2][9]

In 2023 the chain only remains in Texas with 21 Famsa Furniture stores and 21 personal loan branches by Famsa Loans and Famsa Financial.[10]

History

[edit]

Don Humberto Garza opened the Fabricantes Muebleros, his first store. The store became Famsa, which spread throughout Mexico beginning in 1975. Famsa opened its first United States location in Los Angeles in late 2000. Famsa intended to target the growing Hispanic American population. In 2005 the company made $1 billion United States dollars in sales; its United States sales made up 11.9 percent of its figure. In 2006 Famsa had 25 U.S. stores; during that year the company planned to open 25 additional United States locations by 2010. In early 2006 Famsa opened operations in Guatemala and planned to begin deliveries to El Salvador.[7]

On 26 June 2020 Grupo Famsa reported in a statement to the Mexican Stock Exchange that it filed a voluntary application under Chapter 11 of the Bankruptcy Code of the United States[11]

In an August 6, 2020 a shareholder meeting authorized a request to file for Chapter 15 Bankruptcy in the United States and bankruptcy in Mexico.[12]

In 2023, Famsa closed their stores in Mexico only 3 stores open.[2]

Finally on March 31, 2023, Famsa closed its final and first location in Monterrey, Ending the 53 year old chain, as of December 16, 2023, Famsa had stores in the US.[9]

See also

[edit]

References

[edit]
  1. ^ "Famsa, a punto de desaparecer: ¿Debo seguir pagando mi crédito?".
  2. ^ a b c "Famsa cierra casi todas sus tiendas en México, mantiene 3 en operación". 26 February 2023.
  3. ^ "Store List – FAMSA Locations". Retrieved 2023-04-09.
  4. ^ a b "Famsa | FAMSA USA".
  5. ^ "Contact Archived 2012-04-26 at the Wayback Machine." Grupo Famsa. Retrieved on January 2, 2011. "Corporate Offices: Ave. Pino Suárez No. 1202 nte. Zona Centro C.P. 64000 Monterrey, N.L., México"
  6. ^ "Famsa | FAMSA MEXICO".
  7. ^ a b Moreno, Jenalia. "Shopping / Retailer pushes north / Famsa chain from Mexico finds growth in the U.S." Houston Chronicle. Sunday August 20, 2006. Business 1. Retrieved on March 4, 2010.
  8. ^ "Quienes-somos - FAMSA".
  9. ^ a b "Famsa cierra tienda en Monterrey, la última tras operar por mas de 50 años". Milenio. 31 March 2023. Retrieved 1 April 2023.
  10. ^ "Store List – FAMSA Locations". Retrieved 2023-04-11.
  11. ^ "Famsa files for bankruptcy to seek restructuring". 2020-06-27. Retrieved 2020-06-27.
  12. ^ "Mexico's Grupo Famsa files for bankruptcy in United States and Mexico (Reuters)". 2020-08-06. Retrieved 2020-08-06.
[edit]
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