Two of Panama's major companies feel the pinch

The slowdown of Panama's economy has hit two of the nation's leading consumer-oriented companies.

Tagarópulos says it has launched an "orderly but significant" reduction of its distribution business of groceries and other consumer items.

Meanwhile, Franquicias Panameñas reported losses of $2.8 million in the second quarter. It has a string of Pizza Hut, KFC and Taco Bell franchises.