Dead­lines loom­ing for Marinopou­los

Kathimerini English - - Focus - DIMITRA MANIFAVA

In a meet­ing yes­ter­day be­tween the bank­rupt Marinopou­los su­per­mar­ket and the em­ploy­ees’ union re­gard­ing un­paid De­cem­ber salaries, the group’s ad­min­is­tra­tion re­ferred staff to an up­com­ing court de­ci­sion.

Union sources said the com­pany told its staff it has run out of money and that ev­ery­thing de­pends on how rapidly the court ver­dict is is­sued, de­cid­ing whether it will agree to or re­ject the stream­lin­ing agree­ment for the coun­try’s big­gest re­tail chain.

Given that nei­ther prospec­tive buyer Sklaveni­tis nor the banks are pour­ing any more money into Marinopou­los, the em­ploy­ees are in tur­moil con­sid­er­ing their next moves, not rul­ing out a strike.

Le­gal sources fa­mil­iar with the case ar­gued that there is no sign yet as to when the court ver­dict will be is­sued, but they have not ruled out any de­vel­op­ments next week, based on ex­pe­ri­ence. The sooner the de­ci­sion is is­sued the bet­ter it will be for the ab­sorp­tion of Marinopou­los by Sklaveni­tis (if ap­proved).

In case the ver­dict is not is­sued by Jan­uary 30, when the four­month pe­riod of pro­tec­tion from cred­i­tors ex­pires, it will take an ad­di­tional ap­pli­ca­tion for pro­tec­tion to the Bank­ruptcy Court by Marinopou­los. It is not that long to go be­fore the Fe­bru­ary 14 dead­line set by Sklaveni­tis be­fore it with­draws its in­ter­est ei­ther.

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