Agreement to save Marinopoulos from closing to be signed

1 September 2016
890 Views

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

Poll: New Democracy leads with a 14.8% difference to SYRIZA
POLITICS
shares23 views
POLITICS
shares23 views

Poll: New Democracy leads with a 14.8% difference to SYRIZA

makis - Jun 24, 2021

The governing party of New Democracy is clearly leading the polls with 37%, a difference of 14.8% from SYRIZA which…

Greece and Italy top European picks for American tourists
GREECE
shares25 views
GREECE
shares25 views

Greece and Italy top European picks for American tourists

Panos - Jun 24, 2021

Italy and Greece are the top two choices in Europe for American travellers this season, according to a report by…

Turkish coastguard harassed Cypriot fishing boat (photos)
GREECE
shares28 views
GREECE
shares28 views

Turkish coastguard harassed Cypriot fishing boat (photos)

Panos - Jun 24, 2021

New provocation from Turkey. Turkish coastguards harassed the fishing boat “Maria – Bouboulina”, while sailing in international territorial waters. The…

Leave a Comment

Your email address will not be published.