The company to emerge from a partnership between Greek supermarket groups Sklavenitis and Marinopoulos is expected to debut in the second half of 2016, with the first phase involving a network of 33 hypermarkets.
By Danai Alexaki
The company to emerge from a partnership between Greek supermarket groups Sklavenitis and Marinopoulos is expected to debut in the second half of 2016, with the first phase involving a network of 33 hypermarkets.
According to information obtained by “N”, necessary approval by the domestic competition committee is expected in May, a development that will signal the official commencement of the joint business activity.
Reports state that the 33 store locations have already been pinpointed, with Sklavenitis’ business model and store branding to be employed. The name of the new store network will also reportedly be Sklavenitis, but with both partners’ logos on the marquee.
Another 50 Marinopoulos outlets are expected to join the new corporate entity in the near future, while new contracts with suppliers will be negotiated from scratch.
In terms of Marinopoulos’ debts to suppliers, the same sources said gradual repayment schemes are being negotiated, with a time-frame of 12 months or more for repayment. On an encouraging note, payments for outstanding debts to suppliers are expected to commence in April.
A restructuring plan for Marinopoulos’ remaining outlets, within Greece and abroad, is also on the drawing board.
Along those lines, a Bulgarian news report on the site capital.bg claims that Marinopoulos is selling-off its Carrefour hypermarket at the Mall of Sofia. The report says the store’s parking lot is included in the offer, along with the land where the complex stands.
The same report cites a price tag of 16 million euros, with offers accepted until May 9, and with a bid guarantee of 1.6 million euros.