It’s been a dramatic days for the Marinopoulos, Greece’s biggest supermarket chain. The company filed for protection from its creditors last Tuesday amid 1.3 billion euros of debt, an unprecedented amount for a Greek company. A court granted it temporary respite on Friday.
After a bumper tourism year in Greece last year, where an estimated 25 million visitors beat the grim economic climate of the country to visit in droves, the 2016 season has started out painting a more mixed picture.
Last week, electronics retail chain Elektroniki Athinon declared bankruptcy, citing a combination of a drop in demand, the capital controls introduced last year and a lack of confidence in the Greek economy by foreign suppliers as causes.