The management of the Marinopoulos supermarket group is reportedly in advanced talks with Greek banks over a new loan agreement worth 100 million euros, viewed as a necessary for the chain to access working capital and cover debts to suppliers.
By Danai Alexaki
The management of the Marinopoulos supermarket group is reportedly in advanced talks with Greek banks over a new loan agreement worth 100 million euros, viewed as a necessary for the chain to access working capital and cover debts to suppliers.
According to reports, Marinopoulos – which was French national Carrefour’s strategic partner in Greece before the former curtailed its international operations – is also seeking a discount on its obligations to third parties but at the same time eyeing a repayment scheme and new orders with suppliers.
Marinopoulos operates 520 supermarket units in Greece, while 380 outlets are franchise stores.
The company recently announced a deal with another major Greek supermarket chain, Sklavenitis, to form a joint company in order to co-manage 33 so-called “hyper markets” in the country.