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bankruptcy

Marinopoulos Granted Temporary Protection From Creditors

Greek supermarket chain Marinopoulos won temporary protection after applying for bankruptcy. The court decided to protect the privately-owned group from creditor foreclosures until September 21 when its petition for a resolution process is judged. Marinopoulos' management views the decision as...

IMF Concerned Over Marinopoulos Supermarket Chain's Problems

International Monetary Fund Spokesman Gerry Rice commented on the gloomy news of Greek supermarket giant chain, Marinopoulos, seeking protection from its creditors under an article of Greece's bankruptcy code. Speaking at the IMF Bi-Weekly press briefing, Rice was asked...

Marinopoulos Files for Bankruptcy: the Rise and Fall of an Empire

The end of an era has come for Marinopoulos, one of Greece's largest supermarket chains, that filed for bankruptcy on Tuesday following a domino of events after mounting pressure from suppliers owed a large sum of money and creditor...

Mega TV Saved From Bankruptcy But Still Hanging on a Limb

Last-ditch efforts to save Greece's private Mega channel from bankruptcy paid off on Wednesday with an agreement between shareholders reached at the eleventh hour. Shareholders reportedly agreed to put up three million euros within a week so as to...

Beginning of the End for Mega Channel?

Unfortunate news for Mega Chanel, as information released from Newpost, reported that the end of the channel's era was decided earlier in Tuesday's meeting with the board of directors of Teletypos SA. During the meeting, Theoharis Filipopoulos withdrew his proposal to...

Large Greek Appliance Chain Files for Bankruptcy

Electroniki Athinon S.A., one of Greece's largest home appliances and electronics chain, announced on Wednesday that it has filed for bankruptcy after 66 years of operation. The High Court of Athens with the number 267 / 13.04.2016 decision declared the...

Corporate Bankruptcies Down 15.8% in Greece in 2014

  Company bankruptcies in Greece slowed to 330 in 2014, from 392 in 2013, for a decline of 15.8%, the second biggest percentage decline in European south after Spain, a survey by ICAP Group, a member of the Federation of...

German Economic Advisers Propose Bankruptcy Mechanism Within the Eurozone

On Tuesday, the German "wisemen," five independent economic advisers, argued in favor of creating a mechanism that would allow Eurozone countries to go bankrupt, Reuters reported. "To ensure the cohesion of the monetary union, we have to recognize that voters...

Greek Main Opposition Leader: 'The Government Lied and Bankrupted the Country'

Greek main opposition leader Antonis Samaras strongly criticized Greek Prime Minister Alexis Tsipras in a brief televised address on Wednesday, blaming him for closing Greece’s banks. "He did not have the bravery to admit he is the one who signed...

Greece Is the Only Developed Country that Defaults on the IMF

After defaulting on its payment to the International Monetary Fund (IMF) at 1:00 am on Wednesday, Greece became the first developed country that failed to meet its financial obligations to the Fund. Greece has officially joined Zimbabwe, Somalia and war-torn Sudan...