Calamos Supports GreeceCalamos Supports Greece Business Sudden Closure of Historic Katselis Factory

Sudden Closure of Historic Katselis Factory

katselis_518_355Another historic factory in the field of bakery closes. It is the Katselis company, which has been an employer for 500 families.
The closure was announced in the market on June 21, when Nutriart S.A. (Katselis), filed for bankruptcy before the Athens Multi Member Court of First Instance with a discussion date set for 18 September, 2013.
According to the company’s announcement, “The worsening of the crisis, along with the long delays to finalize, to conclude and to implement the financial restructuring agreements with the banks, worsened the company’s economic condition. As a result, the company is no longer able to meet its financial obligations.”
Giorgos Arvanitis, the President of the Employees in the Nutriart S.A. (Katselis), told Newsit that the employees demand the immediate re-opening of the factory and they want to remain in the market. The employees demand an explanation from their employer and are determined to keep working in the company.

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