Mexican Hotel Operator Posadas Hits Ch. 11 In New York
Grupo Posadas SAB de CV, the Mexican hotel operator behind brands such as Fiesta Inn, Grand Fiesta Americana, One Hotels and Live Aqua, filed for Chapter 11 protection in New York bankruptcy court Tuesday with a prepackaged plan that would let the hotel chain continue to operate after restructuring most of its debt.
Source: law360.com