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Jetoil President Commits Suicide in Athens

mamidakisPresident of the Board of Directors of Mamidoil Jetoil Kyriakos Mamidakis was found dead in his home by a relative, with the handgun next to his body suggesting suicide.
His body was found on Sunday afternoon around 2:00 p.m. at his home in Dionysos, a northern suburb of Athens. The first media reports speak of suicide due to financial woes. Mamidakis had filed for bankruptcy of Mamidoil Jetoil at the end June.
In early June, Mamidoil Jetoil company that belongs to the Mamidakis family, filed an application for admission to the pre-bankruptcy procedures of Article 99 in the Athens Court of First Instance. The case was to be discussed on November 1, 2016.
Mamidoil Jetoil has 600 gas stations all over Greece and a 8.5% market share in the fuel business. The company also has five subsidiaries in the Balkans.
Allegedly, the financial problems of the Mamidakis family started two years ago and they were known to the oil business world. In the past year, major oil companies had limited their dealings with Mamidoil Jetoil.
Who was Kyriakos Mamidakis
Kyriakos Mamidakis was born in 1932 in Anoskeli of Kissamos of Chania. His parents were Alexandros and Eirini Mamidakis. He graduated from the Maritime Trade School in 1951.
In 1952 he started working in the oil trade next to his uncle G.I. Mamidakis. In November 1968, together with his brothers Giorgos and Nikos founded Jetoil.
According to his resume posted on the Jetoil website, Kyriakos Mamidakis was president of the Mamidakis Brothers Group of Companies.

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