MORE SAM'S IN MEXICO: Cifra SA will open its 11th Sam's Club discount store in Mexico in November in the southern city of Villahermosa, according to Henry Davis, Cifra president.

Davis spoke at a ground-breaking ceremony in Villahermosa for the commercial center where the new Sam's Club will be located. Cifra operates Sam's Club stores through a joint venture with Wal-Mart Stores. Davis said the new Sam's Club will represent an investment of about $15 million (50 million pesos) and occupy a space of about 105,400 square feet.

At the end of the first quarter, Cifra operated 10 Sam's Club stores throughout Mexico for a total of almost 1 million square feet of space.

JAMESWAY'S COMING OUT: Jamesway Corp. said it will emerge from Chapter 11 by late October or early November. The 94-unit discount chain, based in Secaucus, N.J., has also won an extension of its exclusivity period through July 15, during which time only Jamesway can file a reorganization plan. Afterward, the creditors' committee can propose an alternate plan.

Attorneys for the company and the creditors said the two sides have agreed to most of the elements of the reorganization plan and that Jamesway is engaged in talks with lenders for exit financing.

SEARS DE MEXICO PICKS DESIGNERS: Sears de Mexico has chosen SDI/HTI of New York and RTKL of Dallas to design prototypes for its upscale and moderate stores in Monterrey, Mexico. The units are each two levels and are slated to open next March. The upscale store is 163,000 square feet and will be an anchor of the Plaza San Agustin shopping center. The mid-market store is 88,000 square feet and will open in the San Nicolas Mall. SDI/HTI is responsible for the interiors while RTKL is handling the building architecture.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus