Money has run out for staff at Marinopoulos

28 December 2016
371 Views

The money for the intermediary funding of bankrupt supermarket chain Marinopoulos – to ensure its operation until its takeover by Sklavenitis – has run out, leaving it unable to cover the December salaries of the 10,800 employees.

All parties involved are hoping for a swift and positive court ruling for the acquisition by Sklavenitis to proceed, releasing the main funding that will allow the chain to operate normally.

The intermediary funding of 80 million euros has been spent and the 8-10 million required for staff salaries will probably not be paid out. As a result, the employees will likely hold a meeting early next week to decide on a strike or the forced confiscation of Marinopoulos’s assets. The employees have received their Christmas bonus as the law dictates.

The only revenues the chain has are from the 70 stores it operates, which are stocked with products by Sklavenitis.

The situation was aggravated on Wednesday by sources close to State Minister Alekos Flambouraris, who claimed workers should not worry about the “delay in the transcript of the court ruling.” This confused things further, as legal experts told Kathimerini that there is no court decision yet to be transcribed and it would be presumptuous for the government to conclude which way it will go.

You may be interested

“Xenophon”: Powerful storm to hit Greece
GREECE
shares43 views
GREECE
shares43 views

“Xenophon”: Powerful storm to hit Greece

makis - Sep 25, 2018

“Xenophon” is the first strong storm that will hit Greece this fall, arriving on Tuesday, September 25 with gale-force winds…

Kidnapped boys in Cyprus found
GREECE
shares25 views
GREECE
shares25 views

Kidnapped boys in Cyprus found

makis - Sep 25, 2018

The two Cypriot children that had been kidnapped earlier on Tuesday have been found after police utilised information provided by…

The one easy tip for a cheap Greek holiday
GREECE
shares207 views
GREECE
shares207 views

The one easy tip for a cheap Greek holiday

Panos - Sep 25, 2018

Travelling to Greece during the peak summer months can feel both like a dream and a nightmare. The islands are…

Leave a Comment

Your email address will not be published.