Greek electronic appliances chain declares bankruptcy
Greek electronic appliances chain Elektroniki Athinon has declared bankruptcy following a court decision on Wednesday. The company’s 45 outlets were expected to be closed on Thursday.
In a statement released on Wednesday, the company cited the state of the local economy, the weakening of Greek consumers’ purchasing power, the imposition of capital controls last year and a suspension of a restructuring plan among the reasons behind its insolvency.
According to Elektroniki, the company’s 450 employees were not owed unpaid wages, while compensation would be paid in about 8 months.
Electroniki Athinon was originally founded in 1950.
You may be interested
Hellenic Air Force: How low can you go?Panos - Jan 15, 2021
In the last few days a video from an Helenic Air Force Base has gone viral. It demonstrates the level…
How Fast Is 5G? (infographic)Panos - Jan 15, 2021
As Apple is getting ready to ship the new iPhone 12 this week, much has been written about the new iPhones’ standout feature: 5G.…
ECDC Covid-19 – Ionian, Aegean and Epirus the only low-risk regions in the EUPanos - Jan 15, 2021
The regions of the Ionian and Aegean islands, as well as Epirus, are the only areas in Europe in the…