Agreement to save Marinopoulos from closing to be signed
An agreement has been reached between the banks and super-market chains Sklavenitis and Marinopoulos, which will see the two companies merge.
According to the deal the troubled Marinopoulos super-market chain will be absorbed by Sklavenitis. After the agreement is singed, about 80 million euros will be paid out in order to pay wages and rent.
The next phase of the major deal relates to the major debts towards suppliers accrued by Marinopoulos over the years. About 60% of suppliers have agreed to a debt haircut.
Efforts are being made so that any debts up to 150,000 to 200,000 euros will not be slashed. At present debts up to 100,000 are not expected to be reduced.
You may be interested
The full IMF programme for Greecemakis - Jul 21, 2017
The IMF published its new programme on Greece on Thursday, which was approved on principle by the organisation’s board of…
President Pavlopoulos extends support to Kos Mayormakis - Jul 21, 2017
The President of the Hellenic Republic, Prokopis Pavlopoulos expressed his deepest sorrow for the victims of the Kos earthquake in…
Kos earthquake: Turkish victim identified as Sinan Kurtoglumakis - Jul 21, 2017
The name of the Turkish national killed in the earthquake on the island of Kos is Sinan Kurtoglu. According to…