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GreekReporter.comBusinessGreece: Dozens More Companies Set to Tank by the End of 2016

Greece: Dozens More Companies Set to Tank by the End of 2016

marinopoulosMarket experts analyzing the financial crisis in Greece have said that they believe that around 50 significant companies can be expected to go bankrupt by the end of 2016, ekathimerini.com has reported.
Several well-known and iconic corporate names are on the list including food service companies, car retailers, healthcare and heavy industry steel companies.
The prediction is based on several factors, including the fact that a great deal of the companies being watched are already in or nearing default.
Some of the specific companies are reported to be highly recognized names such as Hyundai Hellas, which creditor banks are reportedly looking to transfer to another market player.
Also Euromedica is in financial turmoil with high levels of borrowing and negative assets.
With two out of three of Greece’s steel companies having been at a virtual standstill over the past few years. Sources say that it is just a matter of time before the industry is drastically changed by threat of default and that the situation in urgent, ekathimerini.com reported.
Lastly, the recent crisis that the Marinopoulos supermarket chain has found itself in is expected to have a domino effect, causing a large number of small suppliers as well as some larger companies to ultimately go under.
 

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