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.
Hotel / Restaurants Accommodation And Food Service Activities Accommodation 55.1 - Hotels and similar accommodation
120 jobs Number of planned job losses
Announcement Date
17 November 2011
Employment effect (start)
27 December 2011
Foreseen end date
31 December 2011
Description
Macedonia Palace, a landmark hotel in Thessaloniki, is closing down and its 120 employees will remain jobless. The iconic hotel Macedonia Palace in Thessaloniki will close for business on December 27th, it was announced on Thursday, November 17. The Daskalantonakis Group issued a statement saying that it had failed to reach an agreement with Greece's main social security fund, IKA, which owns the building, to renew the lease.
The group stated that it has offered its staff the option to work at one of its other hotels. According to media reports, the hotel employees are highly concerned with the announced closure.
The Macedonia Palace was built during the 1970's and is considered one of the country's most prestigious 5 star hotels. It comprises of 284 luxury suites and has hosted a number of high profile guests.
The decision as why to close the hotel is unknown at this point.
Sources
17 November 2011: Ta nea
17 November 2011: Eleftheros Typos
17 November 2011: Kathimerini
Citation
Eurofound (2011), Macedonia Palace, Closure in Greece, factsheet number 72882, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72882.
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