Money has run out for staff at Marinopoulos

28 December 2016
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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.

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