The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Retail Trade, Except Of Motor Vehicles And Motorcycles Retail Sale In Non-Specialised Stores 47.11 - Retail sale in non-specialised stores with food, beverages or tobacco predominating
800 jobs Number of planned job losses
Announcement Date
3 September 2011
Employment effect (start)
3 September 2011
Foreseen end date
30 September 2011
Description
Atlantic Supermarket chain declared bankruptcy and its 800 employees lost their jobs.
Atlantic Supermarket announced at the beginning of September 2011, that under a decision of the Multi Member First Instance Court of Athens, the Companyhas been declared bankrupt. Its 800 employees have been fired as the chain did not have the available sources to continue operating.
The supermarket chain has been fighting for years to stay in business and was forced to sell off its branches piece by piece.
The company owned 22 branches all over Greece in 2009, but by 2011, only 30 were operating.
Eurofound (2011), Atlantic, Bankruptcy in Greece, factsheet number 72378, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72378.
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