Mexican Hotelier Posadas Eyes Quick Bankruptcy to Secure Rebound

Grupo Posadas SAB de CV, a hotel operator with ties to 185 properties in Mexico, filed for bankruptcy in the U.S. with the goal of firming up turnaround plans by easing weighty debt maturities.

The filing allows Posadas to continue operating while it seeks court approval of a restructuring plan. Suppliers and customers won’t be affected by the filing, according to a statement, and the company intends to wrap up the bankruptcy within 60 days.

“The prepack has already been agreed to by bondholders,” said Omar Zeolla, a strategist at Oppenheimer in New York. “It expedites the ...